Jaitley moves amendments to delete PDMA provisions in finance bill

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arun-jaitleyFinance minister Arun Jaitley moved amendments to the finance bill 2015, deleting the provision on setting up an independent public debt management agency (PDMA).

“The government in consultation with the RBI will prepare a detailed roadmap separating the debt management function and the market infrastructure from the RBI,” Jaitley said in Parliament.

RBI had raised concerns about a government’s proposal to take away regulation of money markets away from the cenral bank.