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Listing of LMC bonds: Lucknow on path to self-reliance amid pandemic, says Yogi
With the listing of Lucknow Municipal Corporation (LMC) bonds worth Rs 200 crore at the Bombay Stock Exchange (BSE) in Mumbai on Wednesday, Uttar Pradesh Chief Minister Yogi Adityanath said that the civic body was progressing towards achieving the goal of "Aatmanirbhar Bharat (self-reliant India)" amid the pandemic.
Mumbai: With the listing of Lucknow Municipal Corporation (LMC) bonds worth Rs 200 crore at the Bombay Stock Exchange (BSE) in Mumbai on Wednesday, Uttar Pradesh Chief Minister Yogi Adityanath said that the civic body was progressing towards achieving the goal of "Aatmanirbhar Bharat (self-reliant India)" amid the pandemic.
"In the times of the COVID, Lucknow Municipal Corporation is progressing towards achieving the "Aatmanirbhar Bharat" goal with the listing of its bonds worth Rs 200 crore at the BSE. The corporation is committed to improving the lives of its residents," the UP chief minister said, after ringing the bell at the BSE for listing the bonds.
According to the Chief Minister's Office (CMO), the Lucknow Municipal Corporation is the first civic body in north India to issue bonds, even as the process of issuing municipal bonds by civic bodies started in the country in 1997.
"The UP government has decided to issue the municipal bonds for Agra, Kanpur, Prayagraj and Varanasi civic bodies as well," the UP CMO said, adding the highest number of 700 urban bodies in the country are in Uttar Pradesh where eight crore people live.
Earlier in the day, Adityanath's Office tweeted"...LMC's bonds have witnessed an astounding oversubscription since it's launch." (ANI)