The Brihanmumbai Municipal Corporation faced a sharp confrontation at its standing committee meeting over the withdrawal of ₹13,775 crore from fixed deposits between 2021 and March 2026, with the Opposition demanding a detailed account of how the money was spent.
The dispute followed the civic administration’s tabling of a quarterly report on the BMC’s fixed deposits up to March 2026. Standing committee chairman Prabhakar Shinde said the civic body currently holds fixed deposits worth ₹79,873 crore across various banks.
Congress group leader Ashraf Azmi objected to the report, describing it as incomplete and misleading. He sought a white paper explaining where, how and to what extent the withdrawn funds had been utilised during the period covering the administrator’s tenure.
Azmi alleged that corporators were struggling to obtain funds for toilet-related works even as thousands of crores of rupees were being withdrawn from fixed deposits without a timely account of their utilisation. He also warned that continued withdrawals on such a large scale could eventually deplete the deposits and questioned how the civic body would fund development works over the next five years.
The Opposition leader demanded that the mayor convene a special meeting to examine the utilisation of the fixed deposits in detail. The demand places the focus on the BMC’s reporting system, particularly the extent to which elected representatives receive regular information about the civic body’s cash reserves and expenditure.
Responding to the allegations, ruling party leader in the civic House Ganesh Khankar agreed that the administration should provide the standing committee with regular details of the fixed deposits. He maintained, however, that the funds were being used exclusively for development works and would not be misused under the current ruling dispensation.
The exchange took place as the committee considered the administration’s quarterly disclosure. While the ruling side defended the withdrawals as development-related spending, the Opposition sought a transaction-level explanation of the ₹13,775 crore withdrawn since 2021.
The figures discussed at the meeting show the scale of the BMC’s financial reserves as well as the political scrutiny surrounding their use. The civic body’s stated fixed-deposit balance of ₹79,873 crore remains the central figure presented by the committee chairman, while the administration’s quarterly report covers deposits up to March 2026.
The next steps sought during the meeting are a more detailed account of the withdrawals and a special meeting convened by the mayor to discuss their utilisation. The administration is also expected to provide the standing committee with regular information on the BMC’s fixed deposits.
