PFRDA adds New Development Bank rupee bonds to NPS eligible investments

NPS pension funds may invest in NDB rupee bonds only within existing rating and maturity limits

Financial Services
PFRDA ·
Change
PFRDA amended NPS investment guidelines with immediate effect to include INR-denominated bonds issued by the New Development Bank in the eligible investment universe.
Why it matters
The circular expands the eligible issuer set for NPS investments without relaxing credit-quality or maturity controls. Pension Funds and NPS Trust teams must treat NDB rupee bonds as eligible only when the bonds meet existing AA-or-above rating requirements and applicable maturity specifications.
Implications
  • — Pension Fund investment teams managing NPS portfolios must update eligible-investment lists to include New Development Bank INR bonds.
  • — Pension Fund risk and compliance teams must apply the existing AA-or-above credit-rating and maturity requirements before treating NDB rupee bonds as NPS-eligible.
  • — NPS Trust operations and compliance teams must configure custody, accounting and compliance checks to recognise eligible NDB INR bond holdings under the amended investment guidelines.

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PFRDA
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