Vote for BJP in urban local bodies" poll for "triple engine" govt in UP: Adityanath
UP: Man booked for attempting to rape 5-year-old girl
Congress to mark 100 days of Bharat Jodo Yatra with concert in Jaipur
BJYM, Hindu outfits put off planned protest march at AMU
Karachi battles gas crisis; residents face unannounced load shedding, 2-hr gas supply in a day
Elderly man in judicial custody dies during treatment in UP hospital
Himachal Pradesh skittle Haryana for 46, take 200-run lead on Day 1
Pak court grants protective bail to PM Shehbaz"s son Suleman in money laundering case
British Library celebrates India ties with exhibition on Hampi
Nine policemen suspended after suspect dies in police custody in UP
Gangster"s property attached in UP"s Pratapgarh district
Maoists torch construction company vehicles in Jharkhand’s Chatra district
Sino-India border situation "generally stable": China on Yangtse clash
Babar Azam not taking advice from seniors, claims Shahid Afridi
Qlite Global launches their exclusive Grand Experience Centre
"Disillusioned with central leadership": Sikkim BJP president says he has resigned
2001 attack anniversary: Ready to guard new Parliament if directed, say CRPF heroes
Class 2 student dies after scuffle with fellow students in UP
Three killed in accident in UP"s Lakhimpur KheriLakhimpur Kheri (UP), Dec 13 (PTI) Three motorcycle borne youths were killed and "
Abandoned girl child from Assam adopted by Spanish professor
GHAZIABAD: The GDA is planning to raise funds for its new and ongoing projects through bonds and will soon hire an agency for the purpose.“I have been asked by the GDA vice-chairperson to look for an agency which will help the agency raise bonds. For the Hindon Elevated Road, we had sought loan of Rs 700 crore from NCR Planning Board, of which we have been given Rs 420 crore,” said Singh.“It is believed that raising funds through bonds is economically viable as compared to loans” he added. This was necessitated to deal with the financial crunch we are facing to implement many of our projects, including the phase 3 metro,” said Subedar Singh finance controller at the GDA.“To start with, we will get the GDA’s credit rating done by a Sebi-approved agency. We will have to score A or A+ to qualify the eligibility criteria,” he added.Bonds are floated by agencies that seek participation from the public to raise funds.“We receive money from them, say for a period of 10 years, and pay them back along with an interest that is mutually agreed upon,” Singh said.Among the projects that the GDA plans to implement are the phase 3 metro (Rs 3,990 crore), Ghanta Ghar-Bhatia Mor elevated road (Rs 250 crore) and Vasundhara and Raj Nagar Extension flyovers (Rs 120 crore).Earlier, the GDA had taken loans from banks and other financial agencies to fund several of its projects, which apparently required it to pay a higher interest rate.“For Maduban-Bapudham, we are in the final stage of getting loan of Rs 800 crore from Allahabad Bank .
Your support to NYOOOZ will help us to continue create and publish news for and from smaller cities, which also need equal voice as much as citizens living in bigger cities have through mainstream media organizations.
