CM gets bonds registered in NSE

Source: The Hitavada      Date: 06 Jul 2018 11:41:43



CM said that the money being invested by Indore Municipal Corporation by every person is safe and it will also be used in development of Indore

Staff Reporter

REGISTERING bonds of Indore Municipal Corporation (IMC) in National Stock Exchange (NSE), Mumbai, on behalf of 7 crore public of the State, Chief Minister Shivraj Singh Chouhan said that not only the money being invested by every person in bonds is safe but it will also be utilised in development works of Indore. With an aim to ensure economic participation of citizens in development works of the city by Madhya Pradesh Government, the Municipal Corporation had issued bonds worth Rs 170 crore on June 28.

Indore Municipal Corporation is the State’s first and the country’s third Municipal Corporation to issue such bonds.
Indore Municipal Corporation has fulfilled social responsibility by issuing the bond. Chouhan further added that Indore, the commercial city of Madhya Pradesh, has topped the list of cleanest cities since for two years in a row. Apart from contribution of Indore administration, contribution of people of Indore is also noteworthy. All the policies of the administration are successful only with the help of citizens. Indore Municipal Corporation had got evaluation done by two national-level rating agencies, in which double AA rating was provided by the agency due to sound financial condition of the Municipal Corporation, on the basis of which the process of issuing bonds worth Rs 170 crore was started after registration in NSE in June-2018 from Indore Municipal Corporation. He said that after Indore, Bhopal, Jabalpur and Gwalior Municipal Corporations are also trying to expedite the process of registration in NSE. With this type of capital investment, best possible arrangement of electricity, water,city traffic, sewage etc will be provided to the citizens. He said that the cleanliness programme is being implemented in Madhya Pradesh on war footing under Prime Minister’s Swachh Bharat Abhiyan.

This is evident from the fact that Indore and Bhopal have been established on Number 1 and 2 in the list of clean cities. CM Chouhan told the investors that he will invite them to Madhya Pradesh. He asked them to visit Madhya Pradesh and see for themselves how a Bimaru state has turned into a developed one and is not only providing electricity to other states but is also supplying milk and food products in abundant quantity. ‘Nadi Jodo’ programme of Madhya Pradesh has resulted in positive outcome thereby putting an end to water crisis gradually. Managing Director and Executive Officer NSE Vikram Limaye welcomed the Chief Minister by presenting a souvenir. The Chief Minister presented a souvenir to investors and rating agency. Mayor of Indore Municipal Corporation Malini Laxman Gaur, Principal Secretary, Urban Development Vivek Agrawal and Divisional Commissioner, Indore, Raghvendra Singh were present in the grand function organised at National Stock Exchange, Mumbai.