For the past two-and-a-half years, the amount of money in BMC’s fixed deposits (FDs) has shrunk by Rs 10,000 crore. During the Shiv Sena (UBT)’s Dussehra rally, party chief Uddhav Thackeray said the civic body issued work orders worth over Rs 3 lakh crore and spent almost half the money in its FDs. However, the BMC still had approximately Rs 81,500 crore in FDs at the end of September.

In March 2011, BMC had Rs 23,330 in FDs, which increased to Rs 72,000 crore in March 2018. By March 2022, it had reached almost Rs 92,000 crore. The terms of corporators ended that month and in June 2022, the state government was toppled. Iqbal Singh Chahal, the then-municipal commissioner, was subsequently named the civic administrator under the guidance of the state government.