Bhubaneswar, May 18 -- Highlighting the increasing importance of municipal bonds as a key source of financing for urban infrastructure and development projects across the country, SEBI Chairman Tuhin Kanta Pandey noted that across India 22 Urban Local Bodies (ULBs) have collectively raised more than Rs 4,500 crore through municipal bonds till FY26.

Speaking at the Association of Mutual Funds Program in Bhubaneshwar, Odisha, Pandey said the securities market serves as an efficient tool for directing savings into investments alongside banks, government support and internal accruals.

He highlighted that the capital market has diversified financing avenues through instruments such as equity, debt, REITs, InvITs and municipal bonds.

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