Bangalore, Indore, Thane & Visakapatnam win the CRISIL Awards for Excellence in Municipal Initiatives
Six urban bodies receive special recognition

October 24, 2005, Mumbai

CRISIL, India's leading Ratings, Financial News, Risk and Policy Advisory company today announced the winners of the CRISIL Awards for Excellence in Municipal Initiatives at a function in Mumbai today. Through this Awards programme, CRISIL has taken the initiative to catalyse change in India's Urban Bodies (ULBs) to meet the growing challenge of urbanisation.

The Ministry of Urban Development, Government of India has partnered CRISIL in this initiative.

In his welcome address at the awards ceremony, Shri R. Ravimohan, Managing Director & CEO, CRISIL said, "CRISIL Awards for Excellence in Municipal Initiatives is our effort to help catalyse the transformation of our cities into engines of economic growth while offering a healthy and nourishing environment for its citizens."

Chief guest Shri Deepak Parekh, Chairman, HDFC Limited gave away the CRISIL Awards. More than 35 ULBs participated in this year's programme by submitting more than 100 initiatives. The selection was done by a panel of experts. On the occasion, Shri Parekh released CRISIL's "Compendium of Best Practices". He said, "I am extremely happy that a well known and credible organisation like CRISIL has taken this novel initiative. More urban bodies and city managers need to undertake change initiatives, and cities need to attract large capital in order to make a significant improvement."

The theme for CRISIL Awards 2004-05 is 'Partnerships'. Given the mammoth task of sustainable development being faced by India's Urban Bodies, CRISIL believes that significant progress can be made through `Partnerships'.

Winners of the CRISIL Awards for Excellence in Municipal Initiatives 2004-05

• Bangalore Mahanagar Palika in the 'Partnership between Urban Bodies and Private Sector' category

• Indore Municipal Corporation, and Visakapatnam Municipal Corporation (runners-up) in the 'Partnership between Urban Bodies and Citizens' category

• Thane Municipal Corporation in the 'Partnership between Urban Bodies and Multiple Organisations' category

CRISIL awarded Special Citations to Alandur Municipality (part of Chennai Metropolitan Development Area); Kachrapara Municipality (in West Bengal); Navsari Nagarpalika; Municipal Corporation of Hyderabad; Jamshedpur Utilities and Services Company; and Bangalore Mahanagar Palike. These ULBs were recognised for their innovative ideas currently under implementation or for successfully implementing partnership initiatives in areas with less than one million population.

Concluded.

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