The Public Debt Act, 1944

The Public Debt Act, 1944 was enacted to consolidate and amend the law relating to the management of public debt by the Central Government. The Act provides for the issue of government securities and the regulation of their transfer and redemption. It also outlines the powers and functions of the Reserve Bank of India in managing public debt. The Act aims to ensure that the management of public debt is conducted in a manner that is transparent, efficient, and in the best interests of the government and the public.