The bank is talking to companies in the beverage and cement sectors, to airlines and oil majors to get them interested in the product.
With the recent amendments to the Securities Contract Regulation Act, derivatives trading is allowed in commodities. It was banned till last year.
But trading in weather derivatives is yet to receive a formal nod from the government.
The bank is selling weather derivatives as an over-the-counter product to companies whose operations are significantly dependent on weather conditions.
Beverages companies, for instance, are prime customers because their sales are heavily weather-dependent.
