BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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In which year Public Debt Act was passed?
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1938
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1940
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1944
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1948
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Explanation:
Detailed explanation-1: -In March 1947, the public debt of India stood at Rs. 2331.98 crores. At the time of the Partition of the country, a financial agreement was reached between the Government of India and Pakistan.
Detailed explanation-2: -They were first issued in September 1995 as floating rate bonds are issued by the government.
Detailed explanation-3: -Public Debt Management Cell is an interim arrangement before setting up an independent and statutory debt management agency namely the Public Debt Management Agency (PDMA). PDMC has the following advisory functions to the Government."
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