Delegation of public debt management: Reserve Bank may manage government debt and issue bonds upon central government notification. Clause 154 makes the Part effective on dates appointed by the Central Government by notification and inserts a proviso in section 17(11) permitting the Reserve Bank to exercise the functions specified in clauses (e) and (f) of that subsection for the Central Government only if the Central Government issues a notification under subsection (2) of section 21 entrusting the Bank with managing public debt and issuing and managing government bonds and debentures.
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Provisions expressly mentioned in the judgment/order text.
Delegation of public debt management: Reserve Bank may manage government debt and issue bonds upon central government notification.
Clause 154 makes the Part effective on dates appointed by the Central Government by notification and inserts a proviso in section 17(11) permitting the Reserve Bank to exercise the functions specified in clauses (e) and (f) of that subsection for the Central Government only if the Central Government issues a notification under subsection (2) of section 21 entrusting the Bank with managing public debt and issuing and managing government bonds and debentures.
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