SDMC recognised for its sound mgmt of finances

New Delhi: South Delhi Municipal Corporation (SDMC) earned another feather in its cap on Tuesday by becoming the most reliable Urban Local Body in terms of financial obligations.

The Corporation became the only civic agency in the Capital known for its financially soundness, as it has never failed in discharging its commitments due to any financial crunch during its five years of existence.

ICRA limited, an agency for rating urban local bodies in the country approved by the Union Government, highly commended the financial management and soundness of SDMC's financial situation.

After examining the financial records of SDMC and its detailed presentation on fulfilling the financial obligations, ICRA granted long term rating of ICRA AA+ to the civic body.

Now the Corporation is at par with the Brihan Mumbai Corporation (BMC) and New Delhi Municipal Council (NDMC).

SDMC Commissioner Puneet Kumar Goel stated that ICRA Limited has praised its concerted efforts in maintaining the financial discipline.