NABARD fully subscribes to NSDC's ZCZP issuance on the Social Stock Exchange
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Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓NABARD fully subscribed to the National Skill Development Corporation's maiden ₹4 crore ZCZP issuance on Wednesday.
- ✓This project aims to help 600 rural youth from Madhya Pradesh find jobs in Japan and Germany.
- ✓NABARD said, "The programme is designed to focus on verified overseas employment and sustained livelihood enhancement."
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- India Economy
The National Bank for Agriculture and Rural Development (NABARD) on Wednesday said it has fully subscribed to the National Skill Development Corporation's (NSDC) maiden issuance of Zero Coupon Zero Principal (ZCZP) instruments aggregating ₹4 crore on the Social Stock Exchange (SSE) platform of the National Stock Exchange (NSE).
Funds raised via the aforementioned issuance, which is part of a project with an estimated outlay of ₹11.25 crore, are aimed at creating sustainable overseas employment opportunities for 600 rural youth belonging to Other Backward Classes (OBC) in Madhya Pradesh, NABARD said in a statement.
Under the project, NABARD is participating through subscription to the ZCZP issue, while the Government of Madhya Pradesh is expected to provide outcome-linked funding of ₹5.60 crore upon achievement of agreed employment outcomes. The balance funding is proposed to come through beneficiary contributions.
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