..........While work in the Reserve Bank of India (RBI), in the latter part of the 1980s, by A. Seshan, C. Rangarajan and N. D. Jadhav highlighted the possibility of explosion of internal public debt, no specific scheme on debt repayment was worked out. The RBI attempted some tentative work in the late 1980s to evolve a scheme for debt repayment, but it could not find a satisfactory resolution. Work in the RBI continued in the first half of the 1990s and in 1996 the RBI came up with a comprehensive scheme of a Consolidated Sinking Fund (CSF) which would, over time, become self-sustaining...............
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