Hyderabad Raises Rs.200 Cr. To Aid Smart City Project

Greater Hyderabad Municipal Corporation has raised Rs 200 crore by selling munibonds, aimed at supporting the government’s much coveted “smart city” project. This is the second such bond sale in recent months after the Pune local body in June last year. Insurers, pension funds and banks have invested in the debt securities that earn 8.90 per cent semiannual interest rate with 10-year maturity.