MUNICIPAL BOND

Dec. 25, 2020

The Vadodara Municipal Corporation (VMC) is expected to launch municipal bonds in January 2021.

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With this, it will become the third Urban Local Body (ULB) in Gujarat to use this method to raise money to fund development work sanctioned under the Atal Mission for Rejuvenation and Urban Transformation (AMRUT). It has sought approval for the same from the state government.
Ahmedabad was the first city in south Asia to launch a municipal bond of Rs 100 crore in 1998. Surat Municipal Corporation was the second city in Gujarat to announce bonds in 2018.

Source : Indian Express

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