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of <h1>Finance Bill 2015: Clause 126 Establishes Public Debt Management Agency to Oversee Government Securities and Payments</h1> Clause 126 of the Finance Bill, 2015, establishes the Public Debt Management Agency (PDMA) responsible for payments to holders of Government securities per their terms. The Central Government may set rules for claiming or making these payments. The Bill introduces Chapter VII, detailing the PDMA's role, including minimizing public debt costs, managing Government securities, and publishing public debt information. The Agency operates under the Central Government's oversight, with a Board managing its affairs. The PDMA is exempt from taxes, and the Central Government can issue directives to it. Additionally, Chapter VIII addresses the Senior Citizens' Welfare Fund.
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