Venkaiah Naidu launches nation’s largest municipal bond programme

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Mumbai (Maharashtra), June 22 (ANI): Union Urban Development Minister Venkaiah Naidu, launched country’s largest municipal bond programme on Thursday morning in Mumbai. During the event, the Minister rang a gong to incorporate the Pune Municipal Corporation (PMC) in the list of BSE (Bombay Stock Exchange). After the programme, the Union Minister tweeted: “The AA+ rated PMC’s municipal bond listing is Team India’s efforts towards the much desired urban transformation, an echo of urban revival.” “I compliment Pune Municipal Corporation for reviving the mechanism of municipal bonds. Proceeds will be used for a 24×7 water supply project,” he added. On June 19, the Pune Municipal Corporation raised Rs. 200 crore by selling ten year bond, becoming the first civic body to beat money from this route in 14 years.

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