Jaitley drops plan to takeaway RBI's power to regulate govt bonds
Source: IRIS | 30 Apr, 2015, 05.33PM
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The Indian government has dropped proposal to remove RBI's power to regulate government bonds for time being. The Finance Minister Arun Jaitley withdrew this proposal from Finance Bill, 2015. Accordingly, the government will delete the provisions of Public Debt Management Agency (PDMA) from the Finance Bill 2015. The government will prepare a roadmap in consultation with the central bank to pursue a separate debt management agency later in line with the global practice, Jaitley said. The Finance Minister made these remarks while debating the Finance Bill in the Lok Sabha today.
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