Full-Fledged Agency for PDMA from 2018

The Finance Ministry is mulling to set up a full-blown independent public debt management agency by the end of 2018 to manage government borrowing programme. At present, the government debt, including market borrowings, is managed by the Reserve Bank. As an interim arrangement for a full-fledged agency for managing public debt to be called as Public Debt Management Agency (PDMA), the government last year set up the Public Debt Management Cell (PDMC) at RBI’s Delhi. PDMA is likely be functional in the last quarter of 2018, sources said.