India Lists First Mortgage-Backed Pass Through Certificates on NSE

On 5th May 2025, in a major development for India's housing finance and debt markets, the country’s first mortgage-backed Pass Through Certificates (PTCs) were officially listed on the National Stock Exchange (NSE).

Spearheaded by the Department of Financial Services (DFS) under the Ministry of Finance, this development marks a major stride in the evolution of India’s securitization and debt markets.

What are Pass Through Certificates (PTCs)?

  • PTCs are securitized debt instruments that distribute periodic payments—comprising principal and interest—from a pool of underlying loans.
  • In this case, the certificates are backed by residential mortgages, classifying them as Residential Mortgage-Backed Securities (RMBS).

Key ....

Do You Want to Read More?
Subscribe Now
To get access to detailed content

Already a Member? Login here

Take Annual Subscription and get the following Advantage
The annual members of the Civil Services Chronicle can read the monthly content of the magazine as well as the Chronicle magazine archives.
Readers can study all the material since 2018 of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.
Be an Annual Subscriber

Economy Watch