Overview
- Chief Minister Devendra Fadnavis rang the NSE bell to mark the Nashik Municipal Corporation green bond listing in Mumbai.
- NMC listed ₹200 crore on the exchange, with funds earmarked for expanding Mukane Dam pumping capacity, a new Vilholi treatment plant, and a gravity main to Sadhugram.
- Officials said the projects aim to cut water distribution losses from about 47% to roughly 20% and ensure safe supply during and after the Kumbh Mela.
- Fadnavis highlighted that the Union Budget raised the municipal bond cap from ₹200 crore to ₹1,000 crore and increased incentive support to ₹200 crore.
- He urged cities to tap capital markets, proposing pooled bond issues of about ₹1,000 crore for smaller corporations, while noting NMC raised funds via both private placement and public issuance within one financial year.