A Government Resolution (GR) or order issued by the state finance department said the cabinet had approved the loan to be taken on government guarantee for 2024-25. As financial year 2024-25 is over, a fresh guarantee was being given subject to another cabinet approval
The government has allowed MMRDA to raise loans of up to Rs 60,000 crore for ongoing and proposed infrastructure development projects in MMR. Representational pic
The Maharashtra Government will be the guarantor for a Rs 10,000-crore loan advanced by the Power Finance Corporation Ltd (PFCL) for infrastructure development projects in the Mumbai Metropolitan Region (MMR), officials said on Wednesday.
According to news agency PTI, a Government Resolution (GR) order issued by the state finance department said the cabinet had approved the loan to be taken on government guarantee for 2024-25. As financial year 2024-25 is over, a fresh guarantee was being given subject to another cabinet approval.
If there is a delay in repayment of loan by the Mumbai Metropolitan Region Development Authority (MMRDA), the government is not liable for any penalty, the GR further stated.
MMRDA will be the principal debtor, and it will apprise the urban development and finance ministry of the repayment situation on a monthly basis, PTI reported.
The government has allowed MMRDA to raise loans of up to Rs 60,000 crore for ongoing and proposed infrastructure development projects in MMR. So far, the government has given guarantee to loans worth Rs 24,000 crore.
MMRDA signs Rs 4 lakh crore funding deals for infrastructure projects
The Mumbai Metropolitan Region Development Authority (MMRDA) has signed Rs 4.07 lakh crore funding deals for infrastructure development projects in Mumbai Metropolitan Region (MMR), an official statement said on Tuesday.
It said that the MMRDA on Tuesday secured non-binding lines of credit worth Rs 4.07 lakh crore (approximately USD 48 billion) from leading Indian financial institutions.
The step aims to accelerate infrastructure development in the Mumbai Metropolitan Region (MMR) and transform it into a global urban and financial hub, it said.
According to the official statement, the credit lines were signed during the India Global Forum 2025, under the leadership of Maharashtra Chief Minister Devendra Fadnavis, Deputy Chief Minister and MMRDA Chairman Eknath Shinde, and Metropolitan Commissioner Dr. Sanjay Mukherjee.
"Key financial institutions, including REC, PFC, HUDCO, IRFC, and NaBFID, have pledged long-term financial assistance to fund crucial infrastructure projects across the region," the statement said.
It further said that the partnerships will support a wide range of MMRDA projects including as transport systems, affordable housing, energy-efficient solutions, multimodal connectivity, and smart urban services. The funding is in line with Maharashtra's goal of becoming a USD 1 trillion economy and contributing to India’s ambition of reaching a USD 5 trillion economy.
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