National Commodity and Derivatives Exchange (NCDEX) launches NCDEX Nidhi mutual fund platform to boost rural financial inclusion

Key facts

• The National Commodity and Derivatives Exchange (NCDEX) has launched NCDEX Nidhi, a mutual fund transaction platform aimed at expanding rural penetration.
• The platform features an API-first architecture, enabling distributors to transact directly or integrate APIs into their own systems.
• NCDEX will leverage its network of about 800 Farmer Producer Organizations (FPOs), each with an average of 250 members, for distribution.
• NCDEX will help FPOs obtain mutual fund distributor licenses, including licenses to sell to the general public.
• The exchange has already partnered with five top Asset Management Companies (AMCs) and plans to partner with 15 more in the next one to two months.
• NCDEX also plans to launch weather derivative contracts on rain and heat, as well as derivative contracts on platinum and freight.