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
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 It was considered outdated, and the Government Securities Act, 2006 was introduced to replace it.[2] The Act oversees government securities and their management by the RBI.[3] The second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
References
- ↑ Govt. Securities Act comes into force. The Hindu(4 December 2007). Retrieved 22 February 2015.
- ↑ Economic Developments in India : Volume - 116 Analysis, Reports, Policy Documents{{#if:|, {{{last}}}}. Academic Foundation(2007). ISBN 978-81-7188-669-2
- ↑ India's Banking and Financial Sector in the New Millennium{{#if:|, {{{last}}}}. Academic Foundation(2001). ISBN 978-81-7188-223-6
- ↑ Securities Contracts (Regulation) Act, 1956:Section 2. Indian Income Tax Department.
Further reading
- FAQs: The Government Securities Act, 2006 and The Government Securities Regulations, 2007. Reserve Bank of India.