ISIN (Internation Security Identification Numbering System) is defined by [ISO 6166:2021][iso] and adopted in India by BIS as [IS 15415:2021][bis] ([(PDF)][bispdf]) ([(PDF2)](https://archive.org/details/gov.in.is.15415.2003)). ISINs in India are [alloted by NSDL for all securities except Government Securities](https://investor.sebi.gov.in/pdf/reference-material/ppt/PPT-7%20Depository%20Services.pdf) (See Page 9).
> This Indian Standard (Second Revision) which is identical with ISO 6166 : 2021 ‘Financial services - International securities identification number (ISIN)’ issued by the International Organization for Standardization (ISO) was adopted by the Bureau of Indian Standards on recommendation of the Banking and Financial Services Sectional Committee and approval of the Services Sector Division Council.
ISIN, as per the ISO standard consists of 3 parts:
1. 2 Character country code as prefix (ISO-3166). For ISINs issued in India, this will always be `IN`.
2. The Basic Number, 9 alphanumeric characters left padded with zeroes.
3. A check digit.
The basic number in India is issued by NSDL and is composed of 4 parts:
1. 1 Character for the kind of issuer. This varies from A-F/9.
1. A 4 character Issuer Code. Alphanumeric.
1. A 2 Character code for security type. Alphanumeric.
1. A 2 Digit serial number for the security itself. Alphanumeric.
Hence, each issuer can issue 36^2 = 1296 securities under each type. The table below explains the same with an example:
The security type is defined in the 8th and 9th character of the ISIN code. The same security type code can have different meanings against different issuers.
This table is based on analysis done on real data. A lot of categories (such as Bonds) are fluid, and the exact description in the dataset might not match the security type in this table (As an example the dataset might state "Deep Discount Bond" instead of "Bond". Note that some other sources on the Internet might differ with this table. If you find a ISIN that does not fit in the following table correctly, please create an issue with the ISIN.
Issuer Type | Security Type Code | Security Type
------------|--------|-----------------
Company (`INE`) | 01 | Equity Share
Company (`IN9`) | 01 | Equity Share
Mutual Fund (`INF`) | 01 | Mutual Fund Unit
Company (`INE`) | 02 | Postal Savings Scheme
Company (`INE`) | 03 | Preference Share
Company (`IN9`) | 03 | Preference Share
Company (`INE`) | 04 | Preference Share
Company (`IN9`) | 04 | Preference Share
Company (`INE`) | 05 | Deep Discount Bond
Company (`INE`) | 06 | Floating Rate Bond
Company (`INE`) | 07 | Bond / Debenture
Company (`INE`) | 08 | Bond / Debenture
Company (`INE`) | 09 | Bond / Debenture
Company (`INE`) | 10 | Floating Rate Bond
Company (`INE`) | 11 | Bonds
Company (`INE`) | 13 | Warrants
Company (`INE`) | 14 | Commercial Paper
Company (`INE`) | 15 | Securitised Instrument
Company (`INE`) | 16 | Certificate of Deposit
Company (`INE`) | 18 | Securitised Instrument
Company (`IN9`) | 19 | Mutual Fund Unit
Company (`INF`) | 19 | Mutual Fund Unit
Mutual Fund (`INF`) | 1A | Mutual Fund Unit
Company (`INE`) | 20 | Rights Entitlement
Company (`INE`) | 21 | Indian Depository Receipt
Mutual Fund (`INF`) | 22 | Alternate Investment Fund
Company (`INE`) | 23 | Infrastructure Investment Trust
Company (`INE`) | 24 | Municipal Bond
Company (`INE`) | 25 | Real Estate Investment Trusts
The last digit (check-digit) is calculated using the [Luhn Algorithm](https://en.wikipedia.org/wiki/Luhn_algorithm) with a slight change to accomodate alphanumeric characters. Alphabets are converted to digits by adding `9` to the usual numeric value of each letter. For example `A=10,B=12,C=13……Z=35`. A few examples:
- The [OpenFIGI API](https://www.openfigi.com/api) returns results for some (not all) Indian ISINs.
- The National Stock Exchange has [a few](https://www1.nseindia.com/products/content/debt/wdm/gsec_reporting_homepage.htm) [pages](https://www1.nseindia.com/products/content/debt/ncbp/ncbp_issues.htm) listing Government Security ISINs.
- Similarly, the Reserve Bank of India also lists Government Securities at a few pages: [[1]](https://www.rbi.org.in/Scripts/bs_viewcontent.aspx?Id=3876), [[2]](https://rbi.org.in/Scripts/bs_viewcontent.aspx?Id=1956), [[3](https://rbi.org.in/scripts/Bs_viewcontent.aspx?Id=3973)], [[4](https://rbi.org.in/scripts/BS_PressReleaseDisplay.aspx?prid=51712#AN1)], [[5](https://rbi.org.in/scripts/BS_PressReleaseDisplay.aspx?prid=52077)].
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