Current Affairs - National - Discussion

RAINCHNNAI is a rainfall-based weather futures contract launched by the National Commodity & Derivatives Exchange (NCDEX) to help manage financial risks associated with the Northeast Monsoon. The contract covers rainfall variability from September to December and is based on Cumulative Deviation Rainfall from the Long Period Average. It uses rainfall data from the India Meteorological Department’s Meenambakkam and Nungambakkam stations. The contract is cash-settled based on the CDR spot value. RAINCHNNAI complements the RAINMUMBAI contract and is particularly significant because the Northeast Monsoon contributes approximately 70% of Chennai’s annual rainfall.