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The Economic Times
The Economic Times
Business
Veer Sharma

NCDEX launches India’s first weather derivatives contract based on Mumbai rainfall

NCDEX India Mumbai IIT Bombay IMD SEBI

National Commodities and Derivatives Exchange (NCDEX) on Wednesday announced the launch of India’s first SEBI-approved exchange-traded weather derivatives contract, named “RAINMUMBAI”, marking the country’s entry into a regulated market for trading weather-linked risks.

The contract will be launched on June 1, 2026, and is aimed at helping market participants hedge financial exposure arising from fluctuations in rainfall during the monsoon season. Developed in collaboration with IIT Bombay and based on official rainfall data from the India Meteorological Department, the product seeks to convert monsoon variability into a measurable and tradable risk within a scientific and regulated framework.

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