PR No.59/2025, Dated: 03.09.2025
1.Introduction
The Securities and Exchange Board of India (SEBI) conducted a Municipal Bond Outreach Programme in Bhopal on August 29, 2025. The event was aimed at enhancing the preparedness of Urban Local Bodies (ULBs) to access the capital markets for infrastructure financing. By bringing together regulators, government officials, and local representatives, the programme sought to strengthen awareness about municipal bonds as a sustainable funding mechanism.
2. Importance of Municipal Bonds
During the programme, SEBI highlighted the critical role of municipal bonds in financing scalable urban infrastructure projects. These instruments provide a viable alternative to traditional funding sources and enable ULBs to mobilize resources for key development initiatives such as transport systems, water supply, sanitation, and housing. The emphasis was placed on building investor confidence through transparency and adherence to regulatory norms.
3. Insights from SEBI Leadership
Shri Amarjeet Singh, Whole-Time Member (WTM) of SEBI, addressed the gathering and underscored the importance of deepening the municipal bond market. He pointed to recent initiatives such as the NISM–World Bank e-learning course, which aims to build capacity among municipal officials and other stakeholders. He reiterated SEBI’s commitment to supporting ULBs in adopting best practices for bond issuance and disclosure.
4. State Government’s Perspective
Shri Sanjay Dubey, Additional Chief Secretary, Government of Madhya Pradesh, also spoke at the event. He stressed the need for robust financials, proper accounting systems, and skilled staff training within ULBs to ensure successful fundraising through capital markets. He emphasized that municipal bonds not only provide financing but also instill fiscal discipline, which is crucial for long-term infrastructure planning.
5. Conclusion
The Bhopal outreach programme marked another step in SEBI’s efforts to broaden India’s municipal bond market and empower local governance structures. By equipping ULBs with knowledge, regulatory clarity, and training resources, SEBI and state authorities aim to foster greater participation in the municipal bond ecosystem. This, in turn, will contribute to sustainable urban development and attract investor interest in India’s growing infrastructure needs.
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