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Regulator It said on Friday that it has formed a committee that will advise on policy matters related to the development of municipal debt securities and facilitate the issuance of such by municipalities.

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Regulators have The Development Committee is headed by Executive Director Sujit Prasad and includes representatives of municipal companies, lawyers, professionals and market practitioners.

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The panel will recommend The Securities and Exchange Commission of India (Sebi) said in a statement about issues related to the regulation and development of primary and secondary markets for municipal debt securities.

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It will recommend to regulators what they need to do to change the legal framework to introduce simplified and transparent systems and procedures in the primary and secondary markets.

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In addition, the group will make recommendations on matters related to the regulation of intermediaries to ensure the protection of investors in the primary and secondary markets, and recommendations on measures to facilitate the issue of municipal debt securities by issuers and municipalities .

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In September, Regulations on the issuance of "municipal " have been relaxed to help cities and entities engaged in urban planning and urban development, including municipalities, raise funds through debt securities.

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About five years ago, the regulator issued the Municipality's Regulations on the Issuance and Issuance of Debt Securities (ILDM). Since then, seven municipalities have raised nearly Rs. 14 crore by issuing their bonds, which are often referred to "Municipal Bonds." .

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