Debt management

Former Deputy Governor Rakesh Mohan was always against separating the debt management office from the Reserve Bank of India. Recently, he also offered examples of advanced economies that are bringing the debt management office back under the central bank’s purview. His former boss Y V Reddy, however, thinks the timing is not right. Why? Reddy’s explanation: “Only when the government of India’s debt comes down can this proposal be taken up!”

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