India's Urban Challenge Fund has approved Rs 31000 crore worth of projects

India's Urban Challenge Fund has approved Rs 31,000 crore worth of projects within 20 to 25 days of its guidelines being finalised, D Thara, Additional Secretary at the Ministry of Housing and Urban Affairs, said at the ninth edition of the FICCI Urban Infrastructure and Innovation Summit. Of projects approved so far, 44 per cent of financing is coming from non-banking financial companies, 22 per cent from public-private partnerships, 5 to 7 per cent from bonds, with commercial banks accounting for the remainder, Thara noted.

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