NSDC Debuts on NSE Social Stock Exchange with ZCZP Issue

The National Skill Development Corporation (NSDC) made its debut on the Social Stock Exchange (SSE) platform of the National Stock Exchange (NSE) in Mumbai on 22 October 2026. Jayant Chaudhary, Minister of State with Independent Charge for Skill Development and Entrepreneurship and Minister of State for Education, took part in the bell-ringing ceremony.

A first for NSDC

The listing marked NSDC's maiden issue of Zero Coupon Zero Principal (ZCZP) instruments. The National Bank for Agriculture and Rural Development (NABARD) subscribed Rs 4 crore to the issue. A ZCZP instrument lets an eligible social-purpose organisation raise money without the obligation to pay interest or return the principal, in exchange for transparent use of funds and reporting of social outcomes.

What the money will do

The programme financed by the issue will prepare 600 young people from economically weaker Other Backward Classes households in Madhya Pradesh for jobs abroad. Of them, 300 will be readied for Japan and 300 for Germany, through residential foreign-language and employability training in Japanese and German. The sectors named are caregiving, hospitality, construction and manufacturing, and the training will be delivered by NSDC International Limited, a wholly owned subsidiary of NSDC.

How the financing is split

The outlay is estimated at Rs 11.25 crore and is raised from three sources:

The outcome-linked half is structured as a bilateral Social Impact Bond between NSDC and the Government of Madhya Pradesh, so that state spending follows measurable employment results. The state will also help mobilise candidates and provide residential training infrastructure and language laboratories.

Who was present and what was said

Among those at the ceremony were Krishna Gaur, Minister of State with Independent Charge for Backward Classes and Minorities Welfare in Madhya Pradesh, Mangal Prabhat Lodha, Maharashtra's Minister for Skills, Employment, Entrepreneurship and Innovation, Ashishkumar Chauhan, Managing Director and Chief Executive of the NSE, Arunkumar Pillai, Chief Executive of NSDC, and Shaji Krishnan V., Chairman of NABARD. The minister said government could create the enabling framework but financing development at scale needed public institutions, private funders and donors together. Indicative monthly earnings for placed candidates were put at about Rs 1 to 1.2 lakh in Japan and Rs 1.1 to 3.2 lakh in Germany, depending on the role.