BRICS Bank plans 1st bond denominated in Indian rupee by end of March, sources say

By Gopika Gopakumar
MUMBAI (Reuters) – The New Development Bank (NDB), backed by BRICS countries, plans to issue its first bond denominated in Indian rupees in the domestic market before the end of March 2026, according to three sources familiar with the matter. The move aims to strengthen the bank’s presence in India and diversify its funding sources. The NDB, jointly established by Brazil, Russia, India, China, and South Africa in 2014, focuses on financing infrastructure projects in emerging economies. This strategic decision aligns with the bank’s mission to promote sustainable development and address infrastructure gaps across BRICS nations. By stepping into the Indian bond market, the NDB seeks to tap into local currency funding to support its initiatives efficiently.