Rajashree Murukute on India's Municipal Bond Market

We cover: - How rating municipalities differs from corporates, why cities struggle with data disclosures, and why pooled finance may be the only way forward for smaller urban bodies. - It also covers market liquidity, policy incentives, escrow structures, green bonds, retail participation, and the critical need for actual capital deployment. Timestamps 0:00 — Intro 5:45 — How rating a municipality differs from rating a corporate 9:48 — Data collection challenges for ULBs 12:48 — Cash-based vs accrual-based accounting issues 17:10 — Cost of raising funds 18:35 — Who actually buys municipal bonds 23:20 — Credit enhancements, escrow accounts & sovereign guarantee 31:55 — Green municipal bonds explained 45:52 — What needs to change in the next 10 years