The New Development Bank (NDB), supported by BRICS countries, is set to introduce its inaugural rupee-denominated bond in the Indian market by the conclusion of March 2026, as revealed by three sources with knowledge of the situation. Previously, NDB had successfully raised funds in Chinese yuan and now seeks to expand its operations to the Indian market, aiming to offer financial support in the form of local currency. The move to issue a rupee-denominated bond underlines NDB’s commitment to enhancing financial stability and promoting economic growth within the region. By diversifying its bond issuance in different currencies, NDB aims to provide support tailored to the specific needs of each market it operates in.
BRICS-backed NDB to Issue First Rupee-Denominated Bond by March 2026
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