| Short Title: | The Government Securities Act, 2006 |
| Long Title: | An Act to consolidate and amend the law relating to Government securities and its management by the Reserve Bank of India and for matters connected therewith or incidental thereto. |
| Citation: | Act No. 38 of 2006 |
| Territorial Extent: | Whole of India |
| Enacted By: | Parliament of India |
| Date Enacted: | 30 August 2006 |
| Date Commenced: | 1 December 2007 |
| Related: | Public Debt Act, 1944
|
| Status: | in force |
The Government Securities Act, 2006 is a legislation of the Parliament of India, which aims to introduce various improvements in the government securities market and the management of government securities by the Reserve Bank of India (RBI).[1]
The Public Debt Act, 1944 was an act of the Parliament of India which provided a legal framework for the issuance and servicing of government securities in India. It was considered outdated, and the Government Securities Act, 2006 was introduced to replace it.[2] The Act oversees government securities and their management by the RBI.[3] The second clause of Section 2 defines government securities as securities issued by the central or a state government for the purpose of raising a public loan.[4]