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{{Use Indian English|date=August 2016}} | {{Use Indian English|date=August 2016}} | ||
{{Infobox legislation | {{Infobox legislation | ||
| short_title | | short_title = Government Securities Act, 2006 | ||
| | | legislature = [[Parliament of India]] | ||
| long_title | | long_title = An Act to consolidate and amend the law relating to Government securities and its management by the Reserve Bank of India and for matters connected therewith or incidental thereto. | ||
| citation | | citation = [http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/GOVTSA130312.pdf Act No. 38 of 2006] | ||
| territorial_extent = Whole of [[India]] | | territorial_extent = Whole of [[India]] | ||
| enacted_by | | enacted_by = | ||
| date_enacted | | date_enacted = 30 August 2006 | ||
| date_commenced | | date_commenced = 1 December 2007 | ||
| related | | repeals = Indian Securities Act, 1920 | ||
| status = in force | | related = [[Public Debt Act, 1944]];<br> Government Securities Regulations, 2007 | ||
| status = in force | |||
}} | }} | ||
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==History== | ==History== | ||
The Public Debt Act, 1944 was an [[legislation|act | The Public Debt Act, 1944 was an [[legislation|act]] which provided a legal framework for the issuance and servicing of [[government securities]] in India. It was considered outdated, and the Government Securities Act, 2006 was introduced to replace it.<ref name="Kapila(eds.)2007">{{cite book|author1=Raj Kapila|author2=Uma Kapila |title=Economic Developments in India : Volume - 116 Analysis, Reports, Policy Documents|url=https://books.google.com/books?id=-_Fp9DlQ1gQC&pg=PA115|year=2007|publisher=Academic Foundation|isbn=978-81-7188-669-2|page=115}}</ref> The Act oversees government securities and their management by the RBI.<ref name="KapilaKapila2001">{{cite book|author1=Raj Kapila|author2=Uma Kapila|title=India's Banking and Financial Sector in the New Millennium|url=https://books.google.com/books?id=7rINpNx4L28C&pg=PA97|year=2001|publisher=Academic Foundation|isbn=978-81-7188-223-6|page=97}}</ref> The second clause of Section 2 defines government securities as securities issued by the central or a state government for the purpose of raising a [[Government debt|public loan]].<ref name="Securities Contracts">{{cite web|title=Securities Contracts (Regulation) Act, 1956:Section 2|url=http://www.incometaxindia.gov.in/Acts/Securities%20Contracts%20%28Regulation%29%20Act,%201956/102120000000007938.htm|publisher=[[Indian Income Tax Department]] | archive-url=https://archive.today/20150222121101/http://www.incometaxindia.gov.in/Acts/Securities%20Contracts%20%28Regulation%29%20Act,%201956/102120000000007938.htm | archive-date=2015-02-22 | url-status=dead }}</ref> | ||
==See also== | ==See also== | ||
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* {{cite web|title=FAQs: The Government Securities Act, 2006 and The Government Securities Regulations, 2007 |url=http://www.rbi.org.in/scripts/FAQView.aspx?Id=70 |publisher=[[Reserve Bank of India]] |url-status=dead |archive-url=https://web.archive.org/web/20150219021256/http://www.rbi.org.in/scripts/FAQView.aspx?Id=70 |archive-date=19 February 2015}} | * {{cite web|title=FAQs: The Government Securities Act, 2006 and The Government Securities Regulations, 2007 |url=http://www.rbi.org.in/scripts/FAQView.aspx?Id=70 |publisher=[[Reserve Bank of India]] |url-status=dead |archive-url=https://web.archive.org/web/20150219021256/http://www.rbi.org.in/scripts/FAQView.aspx?Id=70 |archive-date=19 February 2015}} | ||
{{ | {{Financial services in India}} | ||
[[Category:Acts of the Parliament of India 2006]] | [[Category:Acts of the Parliament of India 2006]] | ||
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[[Category:Government debt]] | [[Category:Government debt]] | ||
[[Category:Financial history of India]] | [[Category:Financial history of India]] | ||
{{India-law-stub}} | {{India-law-stub}} | ||
Latest revision as of 12:00, 23 March 2026
| Government Securities Act, 2006 | |
|---|---|
 | |
| Parliament of India | |
| |
| Citation | Act No. 38 of 2006 |
| Territorial extent | Whole of India |
| Enacted | 30 August 2006 |
| Commenced | 1 December 2007 |
| Repeals | |
| Indian Securities Act, 1920 | |
| Related legislation | |
| Public Debt Act, 1944; Government Securities Regulations, 2007 | |
| Status: In force | |
The Government Securities Act, 2006 is a legislation of the Parliament of India, which aims to introduce various improvements in the government securities market and the management of government securities by the Reserve Bank of India (RBI).[1]
History[edit | edit source]
The Public Debt Act, 1944 was an act which provided a legal framework for the issuance and servicing of government securities in India. It was considered outdated, and the Government Securities Act, 2006 was introduced to replace it.[2] The Act oversees government securities and their management by the RBI.[3] The second clause of Section 2 defines government securities as securities issued by the central or a state government for the purpose of raising a public loan.[4]
See also[edit | edit source]
References[edit | edit source]
- ↑ "Govt. Securities Act comes into force". The Hindu. 4 December 2007. Retrieved 22 February 2015.
- ↑ Raj Kapila; Uma Kapila (2007). Economic Developments in India : Volume - 116 Analysis, Reports, Policy Documents. Academic Foundation. p. 115. ISBN 978-81-7188-669-2.
- ↑ Raj Kapila; Uma Kapila (2001). India's Banking and Financial Sector in the New Millennium. Academic Foundation. p. 97. ISBN 978-81-7188-223-6.
- ↑ "Securities Contracts (Regulation) Act, 1956:Section 2". Indian Income Tax Department.
{{cite web}}: CS1 maint: deprecated archival service (link)
Further reading[edit | edit source]
- "FAQs: The Government Securities Act, 2006 and The Government Securities Regulations, 2007". Reserve Bank of India. Archived from the original on 19 February 2015.
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