Standing committee of PMC nod to float bonds for 24×7 water supply plan

The standing committee of the Pune Municipal Corporation (PMC) in Maharashtra has approved the proposal to raise funds via municipal bonds for the 24×7 water supply project. Bonds worth Rs 23 billion will be issued over a period of five years to implement the project. PMC’s bond issue has been credited as IND AA+ by the Indian Ratings Agency and AA++ by CARE Ratings.