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India’s First Weather Derivative
May 23 , 2026
12 hrs 0 min
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- National Commodities and Derivatives Exchange (NCDEX) launched India’s first Securities and Exchange Board of India (SEBI)-approved weather derivative contract called RAINMUMBAI.
- The contract is linked to Mumbai rainfall during the monsoon season from June to September.
- Weather derivatives are financial contracts used to manage risks caused by changes in weather conditions.
- The contract uses official rainfall data from the India Meteorological Department (IMD).
- NCDEX developed the contract in collaboration with the Indian Institute of Technology (IIT) Bombay.
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