25/05/2026
India’s municipal bond market may be entering an interesting phase.
22 cities across 7 states have already raised nearly ₹45 billion through bonds over the last 9 years.
And now, with fresh issuances in the pipeline and regulatory support from SEBI, municipal bonds could gradually become a more visible part of India’s fixed income ecosystem.
For cities, this could mean another route to fund roads, transport, water and urban development.
A space worth watching closely.
