Inclusion of Rupee Bonds issued by New Development Bank in the eligible investment universe under NPS: PFRDA Circular dated 13.05.2026
PENSION FUND REGULATORY AND DEVELPMENT AUTHORITY
CIRCULAR
Circular No.: PFRDA/2026/29/REG-PF/06.
13.05.2026
To
All Pension Funds, NPS Trust and all Stakeholders.
Subject: Inclusion of Rupee Bonds issued by New Development Bank in the eligible investment universe under NPS.
In pursuance of the in-principle approval accorded by the Department of Economic Affairs, Ministry of Finance, Government of India, to the issuance of INR-denominated Bonds by the New Development Bank (NDB), PFRDA hereby amends its extant Investment Guidelines under NPS as provided below:
| Reference | Existing provisions of Guidelines | Amended provisions of Guidelines |
| Govt Sector Investment Guidelines dated 10.12.20261
Category ii (c) of Debt Instruments and Related Investments: |
Rupee Bonds issued by institutions of the International Bank for Reconstruction and Development, International Finance Corporation and Asian Development Bank. | Rupee Bonds issued by institutions of the International Bank for Reconstruction and Development, International Finance Corporation, Asian Development Bank and New Development Bank. |
| Non-Govt Sector Investment Guidelines dated 10.12.20262
Category (b) of Scheme /Asset Class C: |
Rupee Bonds issued by institutions of the International Bank for Reconstruction and Development, International Finance Corporation and Asian Development Bank. | Rupee Bonds issued by institutions of the International Bank for Reconstruction and Development, International Finance Corporation, Asian Development Bank and New Development Bank. |
2. All other conditions, including extant credit rating requirements (AA or above) and applicable maturity specifications prescribed under the Investment Guidelines, shall remain unchanged.
3. This circular shall come into force with immediate effect.
Yours sincerely,
Digitally Sd/-
ASHOK KUMAR SONI
(Executive Director)
- Master Circular on Investment Guidelines for UPS/NPS/APY Schemes- Central/ State Government (default), Corporate CG, NPS Lite, Atal Pension Yojana and APY Fund Scheme – 10.12.2025
- Master Circular on Investment Guidelines under NPS in Non-Government Sector – 10.12.2025
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