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<h1>SEBI Amends Rules for Municipal Debt Securities: New Naming, Eligibility, and Disclosure Requirements for Issuers.</h1> The Securities and Exchange Board of India (SEBI) has amended the regulations concerning the issuance and listing of municipal debt securities. These amendments, effective upon publication in the Official Gazette, include renaming the regulations to 'Issue and Listing of Municipal Debt Securities' and revising definitions and eligibility criteria for issuers. The amendments also address the process for public and private placements, disclosure requirements, and the roles of intermediaries like lead managers and debenture trustees. Key provisions include mandatory listing, credit rating requirements, escrow account creation, and continuous disclosure obligations. The changes aim to streamline processes and enhance transparency in municipal debt securities issuance.