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Municipalities having surplus can issue Municipal bonds: Sebi

Move comes after Sebi last month approved criteria alternative to 'net worth' of municipalities

Press Trust of India  |  New Delhi 

To boost the market for municipal bonds, regulator Securities and Exchange Board of India (Sebi) has allowed municipalities having a surplus in their books in any of the three preceding financial years to issue such securities. The move comes after Sebi's board last month approved changes to the relevant regulations in order to provide criteria that is alternative to 'net worth' of municipalities. The decision also comes against the backdrop of Prime Minister Narendra Modi last month pitching for boosting the market for municipal bonds also known as muni ...

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