Archive · 28 Jul 2026
BMC Plans ₹9,500 Crore Municipal Bond Issue
The Brihanmumbai Municipal Corporation (BMC) in Mumbai is planning to raise ₹9,500 crore through municipal bonds.
This is the first time in its 133-year history that the BMC is doing this.
The money will be used for important projects like fixing sewage treatment plants, controlling floods, and building new roads.
However, a politician named Rais Shaikh from the Samajwadi Party thinks the BMC should first show all its financial details to the public before borrowing this money.
He is worried that the BMC is spending too much on making the city look nice before elections and now needs to borrow money for important projects.
The BMC says they are still planning and will get help from experts to issue the bonds.
They will also get a credit rating before selling the bonds.
BMC plans to raise ₹9,500 crore through municipal bonds by December 2026.
Samajwadi Party MLA Rais Shaikh demands a financial white paper before the bond issue.
BMC aims to fund infrastructure projects like sewage treatment plants and flood-control works.
BMC officials state the bond issue is still in the planning stage and experts will be appointed.
The bond issue will seek a credit rating and typically have a 15-year tenure.
- Who
- Brihanmumbai Municipal Corporation (BMC) and Samajwadi Party MLA Rais Shaikh
- What
- Proposed municipal bond issue of ₹9,500 crore
- When
- Planned by December 2026
- Where
- Mumbai, India
- Why
- To fund large infrastructure projects and diversify funding sources
Samajwadi Party MLA Rais Shaikh
BMC Officials
Transparency and Financial Disclosure
Samajwadi Party MLA Rais Shaikh
Demands a financial white paper detailing the BMC's financial position, investments, and debt repayment plan before proceeding with the bond issue.
BMC Officials
States that the bond issue is still in the planning stage and experts will be appointed to guide the process.
Purpose of the Bond Issue
Samajwadi Party MLA Rais Shaikh
Alleges that the bond issue is being rushed without adequate financial disclosures and that the burden will fall on Mumbai's taxpayers.
BMC Officials
Aims to diversify funding sources for large infrastructure projects, including sewage treatment plants, flood-control works, and major road works.
- BMC
- Brihanmumbai Municipal Corporation
- Municipal Bond Issue
- ₹9,500 crore
- Merchant Bankers
- AK Capital Services, Tipsons Consultancy Services, Trust Investment Advisors
- Projects to be Funded
- Sewage treatment plants, flood-control works, pumping stations, tunnels, major road works
- Credit Rating
- To be sought before issuing the bonds
- Bond Tenure
- Typically around 15 years