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of <h1>Finance Act 2018 amends Fiscal Responsibility Act, allowing Reserve Bank to subscribe and convert Central Government Securities.</h1> Section 5 of the Fiscal Responsibility and Budget Management Act, 2003, was amended by the Finance Act, 2018. The amendment replaced sub-section (3) with a provision allowing the Reserve Bank to subscribe to primary issues of Central Government Securities under certain conditions specified in section 4. Additionally, sub-section (4) was modified to permit the Reserve Bank to convert Central Government Securities it holds with other securities of the Central Government through mutual agreement.
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