Answer
A weather derivative
Explanation
It is India's first SEBI-approved exchange-traded weather derivatives contract.
Key Points
- > Use: Reducing rain-related uncertainty
- > Target: Farmers and logistics companies
- > Regulator: SEBI
Additional Information
- It works like insurance.
- It operates based on rainfall in Mumbai.
| Subject | Details |
|---|---|
| SEBI Headquarters | Mumbai |
| NCDEX | Commodity Exchange |