New Delhi, May 21 -- National Commodity Derivatives Exchange Limited (NCDEX) is set to launch RAINMUMBAI, the country's first exchange-traded weather derivatives contract, on May 29, 2026.

As per NCDEX, the initiative aims to transform monsoon variability from an unpredictable challenge into a measurable, manageable, and tradable financial risk within a regulated framework. The product is approved by the Securities and Exchange Board of India (SEBI) and developed in collaboration with the Indian Institute of Technology (IIT) Bombay, utilizing official data from the India Meteorological Department (IMD).

The futures contract is designed for a broad range of stakeholders with financial exposure to rainfall fluctuations, including farmers,...