NABKISAN lists India's first WASH-focused social bond, raising ₹180 crore

National Economy Agriculture & Rural Economy & Banking

NABKISAN lists India's first WASH-focused social bond, raising ₹180 crore

3 October 2026

NABKISAN Finance Limited, a subsidiary of NABARD, listed India's first social bond dedicated to the water, sanitation and hygiene (WASH) sector on the National Stock Exchange in Mumbai on 1 October 2026.
The issue was oversubscribed 1.8 times and raised ₹180 crore.
The five-year bond carries a coupon rate of 8.10% and matures in September 2031; it is rated CRISIL AAA (Stable) and CARE AAA (Stable).
The proceeds will expand access to safe water, sanitation and hygiene in rural and underserved communities.
Water.org acted as Technical Advisor and Knowledge Partner for the issue.

Issuer: NABKISAN Finance Limited (NABARD subsidiary) Amount raised: ₹180 crore Subscription: 1.8 times Coupon rate: 8.10% Maturity: September 2031

Why it matters for exams: Social bonds, sustainable finance and NABARD's role in rural development are recurring economy and banking topics.

Kerala PSCUPSCSSCBank

3 October 2026 Source: Press Information Bureau

In plain words

NABARD National Bank for Agriculture and Rural Development — The national development bank for agriculture and rural development; NABKISAN is its subsidiary.

WASH Water, Sanitation and Hygiene — The sector covering safe drinking water, toilets and hygiene practices.

Social bond — A bond whose proceeds are used for projects with social benefits.