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of <h1>Public Debt Management Agency Formed Under Finance Bill 2015 to Optimize Debt Costs and Manage Government Securities</h1> The Public Debt Management Agency (PDMA) is established under the Finance Bill, 2015, with the goal of minimizing public debt costs within acceptable risk levels. The Board of the PDMA comprises executive and nominee members, including the Chief Executive Officer, appointed by the Central Government. Members can be removed under specific conditions such as insolvency or misconduct. The Agency's functions include managing government securities and public debt information. The Central Government has the authority to issue directions to the Agency and exempt it from taxes. The Agency must also create bye-laws for its internal operations.
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