Kerala Infrastructure Investment Fund Board (KIIFB) wanted to raise Rs 2,150 crore to fund several infrastructure projects in Kerala. The masala bond of KIIFB was listed on the London Stock Exchange on May 17, 2019. You can read about the Masala Bonds – Benefits, Features & Significance in the given link.
Kerala is the first Indian state to tap into the market for masala bonds. However, as per a report of the Comptroller and Auditor General (CAG), the Enforcement Directorate (ED) had started an investigation regarding the issue of Masala Bond by KIIFB.
Further readings:
- Electoral Bonds – Introduction, Context, Importance & Significance
- Types of Bonds – Basics of Bond, General Features and Characteristics
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