BNCMC Pursues CRISIL Credit Rating to Boost Financial Credibility

The Bhiwandi-Nizampur City Municipal Corporation is seeking a credit rating from CRISIL to enhance its financial credibility. This initiative aligns with goals of financial discipline, transparency, and sustainability. The assessment will provide a comprehensive overview of BNCMC's financial health and enable access to funding opportunities.

The Bhiwandi-Nizampur City Municipal Corporation (BNCMC) in Thane has embarked on a strategic move to secure a credit rating from CRISIL, an endeavor aimed at bolstering the civic body's financial credibility, according to officials.

Ramprasad Solunke, the Chief Accounts and Finance Officer of BNCMC, stated in an official release that this initiative reflects the Corporation's dedication to maintaining financial discipline, accountability, and ensuring long-term sustainability.

CRISIL will conduct a thorough financial analysis, examining revenue, expenditure, liabilities, and projects. The outcome will be detailed in a 'white book,' highlighting the Corporation's fiscal capability and aiding in attracting funding from government initiatives.

(With inputs from agencies.)