Developing a Regulatory Framework for Municipal Borrowing in India
This report provides an overview of the municipal debt market as it exists and has evolved over the past ten years. It provides an assessment of trends and patterns from both bank and bond sources covering all types of municipal governments. The ov...
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| Format: | Report |
| Language: | English en_US |
| Published: |
World Bank, New Delhi
2017
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| Online Access: | http://documents.worldbank.org/curated/en/132101468281673152/Main-report http://hdl.handle.net/10986/26863 |
| Summary: | This report provides an overview of the
municipal debt market as it exists and has evolved over the
past ten years. It provides an assessment of trends and
patterns from both bank and bond sources covering all types
of municipal governments. The overall objective of the work
is to assess the regulatory environment pertaining to
municipal borrowing in the country and to generate
recommendations to improve this in a manner which expands
municipal access to private debt finance while ensuring that
risk is appropriately allocated and properly priced. More
particularly, this report: 1) outlines the need and
rationale for expanding access to credit finance on part of
municipalities in India; 2) provides an overview of the
existing municipal debt market; 3) provides an overview of
the chief characteristics of the regulatory environment
pertaining to municipal borrowing in India, places the
existing regulatory system in international context, and
outlines a suggested overall direction for reform; and 4)
provides specific recommendations to improve the regulatory
regimes over which the state and union governments have
respective control. |
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