India, Dec. 3 -- In a key milestone towards mainstreaming municipal finance in India for infrastructure projects, the Nashik Municipal Corporation (NMC) has raised Rs 200 crore through "NMC Clean Godavari Bonds" listed on the National Stock Exchange of India (NSE), to fund the preparations of Simhastha Kumbh Mela 2027.
The funds mobilised through this NMC bonds will be deployed towards key infrastructure projects in the view of upcoming construction of the pedestrian bridge of Ram Jhula, the construction of a vending plaza and general development near Kalaram Temple, the construction of the proposed command and control centre near Kapaleeshwar Temple and sewer network improvement works for the administrative zones of Panchavati, Satpur and...