Nashik Municipal Corporation Lists Maharashtra’s First ULB Green Municipal Bond on NSE

Current Context: On March 9, 2026, the Nashik Municipal Corporation (NMC) listed Maharashtra’s first‑ever public issue of Green Municipal Bonds.

• Platform: National Stock Exchange (NSE), Mumbai, making NMC the state’s first ULB to tap capital markets.
• Aim: To mobilize funds for eco‑friendly urban infrastructure projects aligned with India’s climate goals.
• Focus Areas: Renewable energy, waste management, water supply, pollution control, and climate‑resilient development.
• Significance: Boosts municipal access to sustainable finance, enhances transparency, and supports ESG‑aligned investments.
• Impact: Strengthens India’s green bond ecosystem, encouraging other ULBs to adopt similar financing models for smart, sustainable cities.

Question:

Q.1 Nashik Municipal Corporation became the first Urban Local Body (ULB) in which state to issue Green Municipal Bonds?
a) Maharashtra
b) Karnataka
c) Gujarat
d) Tamil Nadu

Answer: a) The issuance made Nashik Municipal Corporation the first Urban Local Body in Maharashtra to raise funds through Green Municipal Bonds in capital markets.