Ministry freezes plan to spin off DMO from RBI

In yet another example of the growing convergence of views between North Block and Mint Road, the finance ministry has decided to freeze the long-pending proposal to have a separate debt management office (DMO). Sources familiar with the developments said following Finance Minister P Chidambaram’s reinduction as the finance minister, the Reserve Bank of India (RBI) wrote to the ministry, reiterating its objection to the proposal and its concerns over a separate DMO. The central bank’s views also had board approval.......

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