New Delhi, Oct. 21 -- The Ministry of Finance has exempted interest payments on Maharaja INR Bonds issued by the New Development Bank (NDB) from tax deduction at source (TDS) for eligible investors, including resident Indians and foreign institutional investors (FIIs).

The New Development Bank is a multilateral development bank established by Brazil, Russia, India, China and South Africa (BRICS) to mobilise resources for infrastructure and sustainable development projects in emerging markets and developing countries. Here's what investors need to know about the latest TDS exemption.

Maharaja Bonds are onshore, rupee-denominated debt instruments issued in India by international financial institutions to raise funds in Indian rupees. The ...