India’s National Bank for Agriculture and Rural Development (NABARD) has fully subscribed a Rs 4 crore National Skill Development Corporation (NSDC) issue to support overseas job preparation for 600 rural youth in Madhya Pradesh.
The transaction is NSDC’s maiden Zero Coupon Zero Principal (ZCZP) issue, offered on the National Stock Exchange (NSE)’s Social Stock Exchange. A Ministry of Finance (MoF) release carried by the Press Information Bureau (PIB) on Oct. 14 and sourced to NABARD put the program’s estimated cost at Rs 11.25 crore. It aims to prepare rural youth from Other Backward Classes (OBCs) for employment opportunities in Japan and Germany.
The funding plan includes NABARD’s Rs 4 crore subscription and an expected Rs 5.60 crore from the Madhya Pradesh government. The state contribution depends on the program achieving agreed employment results, the release said. Beneficiary contributions are proposed to cover the rest, but the release did not state an amount.
NSDC and the state government are to implement the initiative. Planned preparation includes language learning, technical instruction, certification and cultural orientation. The release also lists assistance with placement paperwork and deployment for overseas work.
The release links the state’s contribution to employment results and says the program focuses on verified overseas employment and sustained livelihood gains, rather than training completion alone. The stated outcome therefore extends beyond the training itself to employment and longer-term livelihoods.
The NSE guidebook describes ZCZP instruments as requiring no interest payments and no repayment of principal.
