https://www.bis.org/review/r020405c.pdf ### The Securities Department *(Ceased to exist)* 1. The Securities Department (a unit of the Banking Department at inception of the Bank) was entrusted with purchase and sale of government securities on behalf of the Government, certain approved institutions, _viz.,_ foreign banks and provident funds, _etc._  2. The Department also acted as custodian of the securities held by the Bank in its Issue and Banking Departments as well as those deposited by the insurance companies with the Government under the Insurance Act. 1. The securities lodged as statutory deposits by the foreign banks operating in India and by other banks and financial institutions as cover for loans were also the responsibility of this Department. 3. Over the years, however, the functions of this Department were taken over by Public Debt Office, Deposit Accounts Department and Public Accounts Department 4. 1990 - the Department ceased to function as a separate entity. https://www.rbi.org.in/commonman/Upload/English/Content/PDFs/RIA160609.pdf ### The Internal Debt Management Department 1. in April, 1992 - The [Internal Debt Management Department](https://rbi.org.in/Scripts/AboutUsDisplay.aspx?pg=Depts.htm#INTERNAL:~:text=in%20three%20months.-,Internal%20Debt%20Management%20Department,-The%20main%20activities) (IDMD) was originally created as a cell within the Secretary's Department comprising the Public Borrowing, Open Market Operations and Ways and Means sections. 2. October 1, 1992 - The Cell was fully constituted as an independent unit called Internal Debt Management Cell (IDMC) 3. May 2003 - It was renamed as the Internal Debt Management Department (IDMD) 4. It manages the internal debt of the central and state governments 5. Public Debt Office (PDO) of RBI is part of IDMD. 6. Now the Public Debt Office (PDO) of RBI, which acts as the registry and central depository for G-Secs. It deals with the issue, interest payment and repayment of principal at maturity. 1. They are located in different Regional Offices of the Reserve Bank manage the registry (keeps records) and depository functions (demat for G-Secs), keeping securities accounts including the book entry form (no paper form) of ownership. 7. More about this [department](https://www.rbi.org.in/commonman/Upload/English/Content/PDFs/RIA160609.pdf) 8. Controller General of Accounts, who is the Principal Advisor on Accounting matters to the Union Government, maintains accounts of public debt 9. The sovereign external debt is managed (policy, monitoring, reporting) by the External Debt Management Unit (EDMU) under the Economic Division, Department of Economic Affairs (DEA), Ministry of Finance. Must Read - [Chapter 13-Financial Inclusion](RBI_History%20of%20The%20Reserve%20Bank%20of%20India%20(1997-2008)_Volume%20V.pdf#page=5&selection=92,4,93,1) in History of The Reserve Bank of India (1997-2008) - Volume V ### Department of Government and Bank Accounts (DGBA) 1. Deposit Accounts Department 1. They operate at regional offices 2. Bank Accounts Division at central office oversees (supervises and control) Deposit Accounts Department 3. The balances of foreign central banks and international institutions like the International Bank for Reconstruction and Development (IBRD), International Development Association (IDA), Asian Development Bank (ADB), International Finance Corporation (IFC), International Fund for Agricultural Development (IFAD), etc., are maintained with the Deposit Accounts Department (DAD) of the RBI. 4. Every scheduled bank is required to maintain a Principal Account with the Deposit Accounts Department (DAD) of the Reserve Bank of India at the centre where the principal office of the bank is located. The account with the Reserve Bank is intended for maintenance of Bank's statutory deposit and operations thereon should be confined to interbank transactions and for payment to the Reserve Bank and Government Departments 2. Public Accounts Departments 1. They operate at regional offices, and are now called Government Banking Departments. 3. So DGBA acts as their central office. https://www.bis.org/review/r020405c.pdf