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BRICS-backed bank considers first rupee-denominated bond by March 2026
BRICS-backed NDB eyes its first rupee bond issuance by March 2026, aiming to boost local markets.
The New Development Bank (NDB), backed by BRICS nations, is planning to issue its first Indian rupee-denominated bond by the end of March 2026. The move would mark a shift from its traditional dollar and local currency issuance and help deepen India’s domestic bond market. Final approvals, including from the Reserve Bank of India, are still pending. The debut rupee bond is expected to fund infrastructure projects and align with efforts to reduce currency risk and promote local currency financing across member nations.