Practicing Success

Target Exam

CUET

Subject

General Test

Chapter

Current Affairs

Topic

National: 2023

Question:

Which Municipal Corporation became the first in India in Feb 2023 to issue 'Municipal Bonds' targeting individual investors?

Options:

Nagpur

Chandigarh

Surat

Indore

Correct Answer:

Indore

Explanation:

Indore Municipal Corporation (IMC) launched India’s first public issue of municipal bonds in Feb 2023 intending to raise up to Rs 244 crore to fund a solar power project. This would be the first time a municipal body is targeting individual investors in India.