Lucknow, May 9 -- Varanasi Nagar Nigam (VNN) has entered the municipal bonds club by raising Rs 50 crore through its first municipal bond issue at a coupon rate of 8.01%, marking the lowest rate secured by any municipal body in UP till date. The bond issue, conducted via private placement on the National Stock Exchange's Electronic Bidding Platform, attracted substantial investor interest, making UP the first state in India to have five Urban Local Bodies (ULBs) - Lucknow, Ghaziabad, Agra, Prayagraj, and now Varanasi - successfully raise funds through municipal bonds. The funds raised will finance two major revenue-generating projects to enhance infrastructure in Kashi. "Varanasi being a premier spiritual and cultural destination requires world-class infrastructure that preserves ancient character while meeting modern needs," said Amrit Abhijat, principal secretary, urban development....