Description
A debt is an obligation owed by one party (the debtor) to a second party, the creditor; usually this refers to assets granted by the creditor to the debtor, but the term can also be used metaphorically to cover moral obligations and other interactions not based on economic value...
The participants in the debt market are described below:
a) Central government raises money through bond and T-bill issues to fund budgetary deficits and other short and long term funding requirements.
b) Reserve Bank of India (RBI), as investment banker to the government, raises funds for...