Bangalore Metro to to riase fund through tax free bonds

In a first for Metro transport sector in the country, the Bangalore Metro Rail Corporation Ltd is set to issue tax-free 'Metro' bonds to raise money for its expansion.

The Bangalore Metro is the pioneer to have proposed Metro bonds to raise funds from the markets and that proposal our ministry has supported.

The proposal had already reached the Finance Ministry and expressed the hope that it would be cleared soon.

The Bangalore Metro expected to raise anything up to INR 2000 crore for the phase I.