The Gilt edged Market – It is the market in government securities or the securities guaranteed (as to both principal and interest) by the government. The former includes securities of the government of India and of the state governments. The gilt-edged market may be divided into two parts – the treasury bills market and the government bond market. As far as the government bond market is concerned, on the borrower side, the RBI manages entirely the public debt operations of the central as well as that of the state governments.
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