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."
Plan borrowings of the Government, including market borrowings, other domestic borrowings, SGBs
Manage Central Government’s liabilities including NSSF, contingent liabilities.
Monitor cash balances of the Government, improve cash forecasting and promote efficient cash management practices.
Advise other Divisions in DEA on matters related to External Debt involving external borrowings through MI, Bilateral Co-operation, other possible sources, in terms of cost, tenure, currency, hedging requirements, etc., and monitor developments in foreign exchange markets.
Foster a liquid and efficient market for Government securities
Develop interfaces with various stakeholders/agencies in the regulatory/financial architecture etc. to carry out assigned functions efficiently.
Advice on matters related to investment and capital market operations.
Undertake research work related to new products development, market development, risk management, debt sustainability assessment, other debt management functions, etc.
Develop a database system for collecting and maintaining comprehensive database of Government of India liabilities on a near real time basis and shall be responsible for publication of relevant information.
Work allocation of Public Debt Management Cell (PDMC) :
Preparation of budget estimates for Appropriations “Interest Payment” & “Repayment of Debt”. (PDMC will give draft proposal/Statements to W&M Section).
Preparation of liability statement of Receipt Budget. (PDMC will give draft proposal/Statements to W&M Section).
Preparation of current rupee loan statement of the Central Govt. of the Receipt Budget (PDMC will give draft proposal/Statements to W&M Section).
FAR & inclusion in international Bond indices.
Coordination with various stakeholders (CGA/CCA etc.) for compilation/reporting of Government Debt statistics (all components including external debt, public accounts /NSS liabilities, EBRs etc.
RTIs and Public Grievances related to Govt. Debt instruments and RBI references on various matters related to Govt. Schemes/Bonds.
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