CURRENT AFFAIRS

Detailed explanation-1: -Lucknow Municipal Corporation bonds on December 2 became the first municipal bonds from North India to be listed on Bombay Stock Exchange (BSE).

Detailed explanation-2: -Vadodara issued first-ever municipal bond.

Detailed explanation-3: -Vadodara is the second Indian city to issue a municipal bond with assistance from the U.S. Treasury Department’s Office of Technical Assistance, following Pune’s bond issuance in 2017.

Detailed explanation-4: -Bangalore was the first city in India to issue municipal bonds (Rs 125 Crores) in 1997 followed by Ahmedabad (Rs 100 Crores) in 1998.

Detailed explanation-5: -Given its high subscription and low yield price, the US Embassy and Treasury selected the municipal bond issued by the Vadodara Municipal Corporation for a case study on successful listing and a benchmark for other civic bodies eyeing stock exchanges.