Answer & Explanation
Option: A municipal bond is a kind of debt instrument where investors offer loans to local governments.
Explanation:
The Vadodara Municipal Corporation (VMC) is expected to launch municipal bonds in January, and will become the third Urban Local Body (ULB) in Gujarat to use this method to raise money to fund development work sanctioned under the Atal Mission for Rejuvenation and Urban Transformation (AMRUT). A municipal bond is a kind of debt instrument where investors offer loans to local governments.
