Pariksha SaathiNABKISAN Lists India's First WASH-Focused Social Bond, Raises ₹180 Crore
NABKISAN Finance Limited, a subsidiary of NABARD, put India's first social bond devoted entirely to Water, Sanitation and Hygiene (WASH) on the National Stock Exchange on 1 October 2026. Investor demand reached 1.8 times the amount on offer, and the company raised ₹180 crore through the five-year paper, which pays an 8.10% coupon, matures in September 2031 and holds the highest domestic ratings, CRISIL AAA (Stable) and CARE AAA (Stable). The money is to be used to widen access to safe water, sanitation and hygiene in rural and underserved communities. Water.org served as technical advisor and knowledge partner on the deal, and NABARD Chairman Dr Shaji Krishnan V said the issue shows how innovative financing can be directed at core development needs.
Drafted with AI assistance from the official PIB release linked above and checked against it by a second AI pass. Not line-edited by a human.
Learning context
NABARD was created on the recommendation of the CRAFICARD committee, set up by the Reserve Bank of India in 1979 under B. Sivaraman. Parliament passed the NABARD Act in 1981, and NABARD came into existence on 12 July 1982, taking over the agricultural credit functions of the RBI and the refinance functions of the Agricultural Refinance and Development Corporation (ARDC).
Reference: Department of Financial Services (Ministry of Finance) page on NABARD
Check yourself: did NABARD begin functioning in 1981, the year its Act was passed?
No. The NABARD Act dates from 1981, but NABARD came into existence on 12 July 1982. Keep the year of the law and the date of establishment separate.
Revision task: from this news item, note who issued the bond (NABKISAN, a NABARD subsidiary), where it was listed (NSE), and its key terms — amount, coupon, tenure and ratings.
Test yourself
NABKISAN Finance Limited, a NABARD subsidiary, listed India's first social bond devoted entirely to which theme?
Show the answer
Answer: Water, Sanitation and Hygiene (WASH)
The five-year WASH bond raised ₹180 crore at an 8.10% coupon with 1.8 times subscription, rated CRISIL AAA (Stable) and CARE AAA (Stable).
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