Municipal Bonds

TMS Ep400: SC on bank frauds, rising interest rate, markets, municipal bond

Why did RBI fail to convince SC on bank frauds? What should borrowers do amid rising interest rates? Which sectors should you bet on in FY24? What are municipal bonds? All answers here

Municipal bonds are primarily issued to raise money for financing infrastructure projects like building parks, libraries, schools, police departments and community centres

Surat, Vizag may issue bonds soon as Centre renews urban infra focus

NSE Indices Ltd, an NSE arm, on Friday said it has launched the country's first ever municipal bond index. The new Nifty India Municipal Bond Index will track the performance of municipal bonds issued by Indian municipal corporations across maturities and having investment grade credit rating, NSE Indices said in a statement. The index was launched at a Securities and Exchange Board of India (Sebi) workshop on Municipal Debt Securities in Bengaluru. Presently, the index has 28 municipal bonds issued by 10 issuers all having credit rating in the AA category. The index constituents are assigned weights based on their outstanding amount. The Indian municipal bond market has seen a resurgence of issuances after Sebi's Issue and Listing of Municipal Debt Securities Regulations, 2015 came into effect and a renewed emphasis on municipal finance by policymakers. Raising money from capital markets incentivises municipal corporations to fund new projects and improve civic infrastructure whi

Markets regulator Sebi has launched an information database on municipal bonds. As part of efforts to develop the bond markets, an outreach programme on municipal bonds and municipal finance was organised by Sebi in the national capital on January 20 and 21, according to a release on Sunday. Representatives from various stakeholders, including the Ministry of Housing and Urban Affairs, municipal corporations, stock exchanges, credit rating agencies, merchant bankers and debenture trustees, participated in the programme. At the event, Sebi Chairperson Madhabi Puri Buch emphasised the potential of municipal bonds in infrastructure development and nation building. The information database was launched at the event. "The information database contains a wide range of information in the form of statistics and regulations, circulars, guidance note and Frequently Asked Questions issued by Sebi in respect of municipal debt securities," it said. According to the release, the repository con

FM Nirmala Sitharaman's pre-Budget consultations from today

Municipal bonds account for a marginal share in debt financing, says the report

India's local city governments must consider issuing municipal bonds to meet their funding requirements as the demand to ramp-up infrastructure in the Asia's third-largest economy grows

Globally, municipal bonds are an established and major source of funding for urban infra. However, the municipal bond market is quite underdeveloped in India, notes Vinayak Chatterjee

Lucknow Municipal Corporation earlier in December become the first city in North India to list at BSE

Here are the best of Business Standard's opinions for today

Municipal bonds can help push local development

Ghaziabad, Pragyaraj, Varanasi, Agra and Kanpur to issue bonds next, says Yogi Adityanath.

The municipal corporation received 21 bids on BSE BOND platform for Rs 450 crore

The relaxation pertains to submission of investor grievance report, financial results and accounts maintained by issuers under ILDM Regulation, Sebi noted in a circular

The regulator has constituted a municipal bonds development committee headed by its Executive Director Sujit Prasad and comprises representatives from municipal corporations

So far eight cities have raised funds through bonds and another six have submitted their proposals, he said.

A well-developed municipal bond market is a marker of an efficient, transparent and accountable civic services ecosystem, something that India's citizens truly deserve

UP cabinet approves first such proposals in the state, instruments likely to be out in a month, with listing on BSE or NSE

The AMC was the first in South-East Asia to raise money through municipal bonds in 1998