Some of the substantive improvements expected in the management of public debt on account of this Bill are: (i) stripping and reconstitution of Government securities to facilitate improved secondary market liquidity, on the one hand and to enable better risk allocation in the appropriate investor class, on the other, (ii) provision for hypothecation, pledge and creation of lien on Government securities, etc.
Let me now turn to money market. IV. Money Market  The money market forms an important part of the financial system by providing an avenue for equilibrating the surplus funds of lenders and the requirements of borrowers for short periods.