Corporate bonds are priced as a spread over the risk-free rate. In India, the reference risk-free rate is unreliable as large institutions are mandated to buy and hold government bonds.
Only 19 out of 269 municipal corporations have issued bonds since SEBI guidelines were released in 2015. This represents less than 1% of total outstanding public-sector debt.
Other factors include easy availability of govt funds, lack of political will to improve service delivery & systemic absence of timely audits, says India Infrastructure Report 2023
Indore is issuing municipal bonds to the public to raise Rs 250 cr for the project. The civic body will also earn revenue by selling carbon credits, says Indore Smart City CEO.
As social media debated whether audiences were consuming Pujarini Pradhan as a symbol, The Juggernaut turned her into a story that could circulate globally, with or without her participation.
Regulator seeks feedback on allowing firms to repurchase shares via exchanges after tax changes, as markets reel from war-led selloff and foreign outflows.
China patiently invested capital, skill and technology in coal gasification. Unlike it, we won’t move from words to action. As crude prices decline, we lose interest.
COMMENTS