A view of logo of New Development Bank (NDB) at its headquarters in Shanghai, China July 10, 2023. REUTERS/Aly Song/File Photo Acquire Licensing RightsJOHANNESBURG, Aug 21 (Reuters) - The development bank founded by the so-called BRICS countries is planning to issue its first Indian rupee bond by October, its chief operating officer said on Monday, as the lender comes under pressure to raise and lend more in local currencies. "We're going to tap (the) Indian market - rupees - maybe by October in India," Kazbekov said. "Now we start thinking seriously... to use one member country's currency to finance projects with that currency in another member. Kazbekov declined to give a target size for the Indian rupee bond program, which Reuters had previously reported was in the process of being set up.

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Persons: Aly, Vladimir Kazbekov, Kazbekov, Leslie Maasdorp, Rachel Savage, Hugh Lawson Organizations: New Development Bank, REUTERS, Rights, United, Russia, ., Reuters, South, Thomson Locations: Shanghai, China, Rights JOHANNESBURG, South Africa, Brazil, Russia, United Arab Emirates, Johannesburg, India, CNY