Question
The new Nifty India Municipal Bond Index _____ municipal
bonds issued by 10 issuers all having credit rating in the AA category.Solution
NSE Indices Ltd, an NSE arm, has launched the country's first ever municipal bond index. The new Nifty India Municipal Bond Index will track the performance of municipal bonds issued by Indian municipal corporations across maturities and having investment grade credit rating. The index was launched at a Securities and Exchange Board of India (SEBI) workshop on Municipal Debt Securities in Bengaluru. Presently, the index has 28 municipal bonds issued by 10 issuers all having credit rating in the AA category. The index constituents are assigned weights based on their outstanding amount.
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