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RBI to be divested of debt management role in 2 years

  1. Centre has finally decided to set up an independent agency to mange its debt after years of discussions with the RBI
  2. As a precursor, the Finance Ministry will soon set up the Public Debt Management Cell (PDMC) in the Budget Division
  3. This interim arrangement will allow separation of debt management functions from RBI to the Public Debt Management Agency (PDMA) in a gradual and seamless manner, without causing market disruptions
  4. The cell will be converted to a statutory authority in about two years’ time
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