Govt may set up public debt management agency via executive order | Business Line

Govt may set up public debt management agency via executive order | Business Line

My VIEW:

Just for record's sake.

It is not as if RBI wants to hold on to a 'POWER' the central bank is enjoying. RBI and analysts have expressed concern because time is not yet ripe for an 'independent' debt management agency in India. 'Public Debt', but for the compulsions for banks to invest SLR in G-Sec, is yet to open account in the retail market in a big way. Government's record of management of disinvestment of stakes in PSUs is any guidance, the present move may destabilise public debt management and even RBI may not be able to take back the work, once the inefficiency of GOI is exposed.

M G Warrier, Mumbai

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