Government Securities Act, 2006

From Bharatpedia, an open encyclopedia
(Redirected from Public Debt Act, 1944)
Information red.svg
Scan the QR code to donate via UPI
Dear reader, We need your support to keep the flame of knowledge burning bright! Our hosting server bill is due on June 1st, and without your help, Bharatpedia faces the risk of shutdown. We've come a long way together in exploring and celebrating our rich heritage. Now, let's unite to ensure Bharatpedia continues to be a beacon of knowledge for generations to come. Every contribution, big or small, makes a difference. Together, let's preserve and share the essence of Bharat.

Thank you for being part of the Bharatpedia family!
Please scan the QR code on the right click here to donate.

0%

   

transparency: ₹0 raised out of ₹100,000 (0 supporter)


The Government Securities Act, 2006
Emblem of India.svg
Parliament of India
CitationAct No. 38 of 2006
Territorial extentWhole of India
Enacted byParliament of India
Enacted30 August 2006
Commenced1 December 2007
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]

The Public Debt Act, 1944 was an act of the Parliament of India 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 It was considered outdated, and the Government Securities Act, 2006 was introduced to replace it.[2] The Act oversees government securities and their management by the Reserve Bank of India.[3] The second clause of Section 2 defines government securities as a securities issued by the central or a state government for the purpose of raising a public loan.[4]

See also[edit]

References[edit]

  1. "Govt. Securities Act comes into force". The Hindu. 4 December 2007. Retrieved 22 February 2015.
  2. 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.
  3. 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.
  4. "Securities Contracts (Regulation) Act, 1956:Section 2". Indian Income Tax Department. Retrieved 22 February 2015.

Further reading[edit]