Bhiwandi civic body ties up with CRISIL to obtain credit rating

Thane, Oct 9 (PTI) The Bhiwandi-Nizampur City Municipal Corporation (BNCMC) in Thane district has initiated the process of obtaining credit rating from CRISIL in order to enhance the civic body's financial credibility, an official said on Thursday.

This initiative reflects the commitment to financial discipline, accountability, and long-term sustainability, BNCMC Chief Accounts and Finance Officer Ramprasad Solunke said in an official release.

"CRISIL Ratings will conduct a comprehensive study of the Corporation's financial health, including revenue streams, expenditure patterns, liabilities, and ongoing projects. The assessment will culminate in issuance of a detailed "white book" outlining the municipal body's financial position and overall fiscal capability," the release added.

It will also open the door for funding opportunities under various Central and state government initiatives, such as the Urban Challenge Fund, the release said. PTI COR BNM