India's Largest Municipal Bond Programme Launched
23rd June, 2017Category:
To finance its 24x7 water supply project, the Pune Municipal Corporation on Thursday launched India's biggest municipal bonds programme. The project looks to raise Rs 2,264 crore in five years.
Municipal bonds are debt instruments through which a corporation or municipality raises money from individuals or institutions. The civic body floating the bonds returns the principal amount on a maturity date with a specific amount of interest.
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