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Municipalities all set to issue smart city bonds

As many as 60 municipalities may issue bonds in the next nine to 12 months to raise funds for developing smart cities

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Masala Bonds

Anup Roy  |  Mumbai 

In a month or two, the Indian corporate bond market will get to see a fresh wave of municipality bonds hitting the market, an instrument which has been rarely tapped to raise funds in India even as globally it is one of the most popular fixed income instruments.

Going by the plan of the ministry of urban development, as many as 60 municipalities across the nation may issue bonds in the next nine to 12 months to raise funds for developing smart cities. Eventually, all 100 municipalities and urban local bodies (ULB) that have been given the mandate to develop smart cities will line up ...

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First Published: Sat, November 05 2016. 21:42 IST
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