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From: "poonam prakash" <pprakash.spafaculty@xxxxxxxxxxxxxx>
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Date: Fri, 16 Dec 2005 17:41:38 +0530
Civic bodies may get SPVs to float bonds- The Economic Times
http://economictimes.indiatimes.com/articleshow/1333934.cms
The National Urban Renewal Mission is considering floating bond banks to provide financing support to municipalities. These banks have been conceived as special purpose vehicles which will issue debt papers on behalf of municipalities.
The plan, to be put before the Cabinet, is loosely based on the US model of bond banks, which warehouse the bonds issued by municipalities and issue fresh papers. But as there is no provision in the Indian banking system for domestic banks to perform such roles, it is expected that the SPVs will fill the gap ........
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