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of <h1>India Issues Second Tranche of Tax-Free Pooled Finance Bonds for Tamil Nadu Water Projects, 10-Year Tenure</h1> The Central Government specifies the issuance of Tax-Free Pooled Finance Development Bonds under the Pooled Finance Development Fund Scheme of India, designated as the second tranche. These bonds, issued by the Water and Sanitation Pooled Fund in Tamil Nadu, aim to partially fund projects by seven Urban Local Bodies for water supply and sewerage schemes. The bonds have a tenure of ten years with a five-year principal moratorium and a total issue size of eighty-three crores nineteen lakhs, with interest not exceeding eight percent per annum. Issuance is subject to guidelines from the Ministry of Urban Development and must occur within twelve months of notification.
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