Public Debt Act, 1944
| The Public Debt Act, 1944 | |
|---|---|
 | |
| An Act to consolidate and amend the law relating to Government securities and to the management by the Reserve Bank of India of the public debt of the Government | |
| Citation | Act No. 18 of 1944 |
| Territorial extent | Whole of India |
| Enacted by | Parliament of India |
| Date enacted | 22 November 1944 |
| Status: Repealed | |
Public Debt Act, 1944 was a 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 It was considered outdated and Government Securities Act, 2006 was introduced to replace it.[1]
Summary
The Act oversees government securities and their management by the Reserve Bank of India.[2] The 2nd clause of the Section 2 defines government securities as a securities issued by the central or a state government for the purpose of raising a public loan.[3]
See also
References
- ↑ Raj Kapila; Uma Kapila (1 January 2007). Economic Developments In India : Volume - 116 Analysis, Reports, Policy Documents. Academic Foundation. p. 115. ISBN 978-81-7188-669-2. Retrieved 22 February 2015.
- ↑ 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. Retrieved 22 February 2015.
- ↑ "Securities Contracts (Regulation) Act, 1956:Section 2". Indian Income Tax Department. Retrieved 22 February 2015.
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