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In a move aimed at simplifying trade and boosting business efficiency, the Maharashtra government on Friday introduced a new 'e-bond' system for import and export transactions, replacing the traditional paper stamp bonds. With the adoption of the e-bond system, Maharashtra has become the 16th state in the country to do so, Revenue Minister Chandrashekhar Bawankule said in a statement. The decision would simplify procedures and accelerate trade operations, marking an important step in modernising the state's economy, he said. "Currently, 3,000 to 4,000 bonds are issued every month for import-export operations, amounting to over 40,000 annually. The introduction of e-bonds will bring a major transformation. Though it may appear small, this is a turning point for Maharashtra's economy," he said. The e-bond system is expected to make obtaining trade bonds faster and simpler, eliminate the need for Rs 500 stamp papers, promote environmental conservation, and enhance transparency in ...
In a bid to promote issuance of municipal bonds, the government is considering a proposal to hike interest subvention from the present Rs 26 crore per urban local body (ULB). Considering immense scope for expansion of municipal bond markets in a bid to develop world class urban infrastructure, there is a need to increase the ceiling of interest subvention from existing Rs 26 crore per urban local body, sources said. The interest subvention is provided to municipal bodies under Atal Mission for Rejuvenation and Urban Transformation (AMRUT) to make such municipal bonds or muni bonds more attractive. The Rs 26 crore is the maximum interest subvention an ULB can receive from the Ministry of Housing and Urban Affairs (MoHUA) for issuing municipal bonds. The central government has extended the facility of 2 per cent interest subvention on such bond issues in order to incentivise this market and facilitate participation of more civic bodies. This interest subvention is on the total size of