IRDAI allows insurers to invest in New Development Bank's rupee bonds
This story was originally published at 21:00 IST on 27 August 2026
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NEW DELHI – The Insurance Regulatory and Development Authority of India has permitted insurers to invest in onshore rupee bonds to be issued by the New Development Bank as part of "approved investments".
The New Development Bank proposes to raise INR 250 billion over a five-year period through its "Maharajah" INR Bonds. The proceeds will be utilised for general corporate purposes towards financing and onward lending to sustainable development, sustainable infrastructure, green and social projects in India, IRDAI said.
IRDAI has allowed investments in these bonds subject to conditions including that the bonds will be governed by norms laid down by the Indian government, the public issue of these bonds shall be duly approved by SEBI, insurers are required to comply with certain section of insurance act, while investing in these bonds, and the bonds shall fulfil the rating criteria for "Approved Investments" under IRDAI regulations, the regulatory authority said.
The regulator further clarified that if the proceeds of the bond issuances are invested in infrastructure sub-sectors notified under the Harmonized Master List issued by the ministry of finance, the investments in the said bonds shall qualify as "infrastructure investments", according to regulator's circular.
The New Development Bank is a multilateral development bank established in 2015 by Brazil, Russia, India, China, and South Africa to mobilise resources for infrastructure and sustainable development projects in emerging markets and developing countries. End
Reported by Vaishali Tyagi
Edited by Deepshikha Bhardwaj
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