Government Securities Act, 2006

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The Government Securities Act, 2006
Emblem of India.svg
Parliament of India

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Citation
Territorial extent

Whole of India

Enacted by
Enacted

30 August 2006

Commenced

1 December 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

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 It was considered outdated, and the Government Securities Act, 2006 was introduced to replace it.[2] The Act oversees government securities and their management by the Reserve Bank of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

References

  1. "Govt. Securities Act comes into force". The Hindu. 4 December 2007. Retrieved 22 February 2015.<templatestyles src="Module:Citation/CS1/styles.css"></templatestyles>
  2. 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.<templatestyles src="Module:Citation/CS1/styles.css"></templatestyles>
  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. Retrieved 22 February 2015.<templatestyles src="Module:Citation/CS1/styles.css"></templatestyles>
  4. "Securities Contracts (Regulation) Act, 1956:Section 2". Indian Income Tax Department. Retrieved 22 February 2015.<templatestyles src="Module:Citation/CS1/styles.css"></templatestyles>

Further reading