SEBI Introduces Information Database and Repository for Municipal Bonds
Moneylife Digital Team 23 January 2023
Market regulator Securities and Exchange Board of India (SEBI) has launched an information database and repository for municipal bonds. The database was released by Ashwini Bhatia, whole-time member (WTM) of SEBI, at a programme held in Delhi. 
According to SEBI, its municipal debt securities information database contains a wide range of information in the form of statistics and regulations, circulars, guidance notes and frequently asked questions issued by the regulator. The repository also contains various checklists for pre-listing requirements and sample letters and certificates from multiple intermediaries to be obtained by an issuer who plans to tap the municipal bond market. Templates for agreements between various stakeholders and an indicative due diligence questionnaire for merchant bankers are also included.
SEBI also launched a QR code (quick response code) which, by scanning, leads to the database.
SEBI introduced a regulatory framework for the issue, listing, and trading of municipal debt securities. It was further reviewed by SEBI in 2019. As per SEBI, since 2017, 12 issues of municipal bonds have been made by 10 municipal corporations in the country, raising almost Rs2,000 crores.
The two-day programme held on 20 January - 21 January 2023 was attended by participants who represented all stakeholders, including the ministry of housing and urban affairs, municipal corporations, stock exchanges, credit rating agencies, merchant bankers, debenture trustees, lawyers, NGOs (non-government organisations) and institutional investors.
(PR No.01/2023)
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