Mumbai, May 21 -- NCDEX on 20 May 2026 announced the launch of India's first exchange-traded weather derivatives contract, named RAINMUMBAI, marking the country's entry into a regulated weather risk market.

The SEBI-approved contract will begin trading from 29 May 2026 and has been developed in collaboration with IIT Bombay using rainfall data from the India Meteorological Department (IMD).

RAINMUMBAI is designed to help participants hedge financial risks arising from fluctuations in rainfall during the monsoon season. The product targets a wide range of weather-sensitive sectors including agriculture, construction, power, logistics and financial services.

The contract will be cash-settled and based on cumulative rainfall deviation fro...