The Securities and Exchange Board of India (Sebi) approved a series of amendments to its municipal debt regulations last week to deepen India’s nascent municipal bond market.
The changes include lowering the face value of privately placed municipal bonds to as little as ₹10,000 from the earlier ₹1 lakh threshold, allowing issuers to offer incentives, such as additional interest, to retail investors, and creating a clearer framework for pooled financing and debt refinancing.
