Para 19.1 — MSO (A&E)
Original Rule Text
19.1 The Audit of interest payments on Government borrowings is divided between Accountant General (Audit) and the Public Debt Office, Reserve Bank of India.
What This Means
The audit of interest payments on Government borrowings is split between two bodies: the Accountant General (Audit) handles one part, and the Public Debt Office of the Reserve Bank of India handles the other. This division ensures dual oversight over the large sums involved in government debt servicing.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Key Points
- 1Interest payments on government borrowings are subject to dual audit
- 2Accountant General (Audit) handles one portion of the audit
- 3Public Debt Office of RBI handles the other portion
- 4Ensures checks and balances on government debt servicing
Practical Example
The State Government pays quarterly interest on its market borrowings. The Accountant General (Audit) verifies that the amounts debited match the sanctioned loan terms, while the Public Debt Office of RBI independently confirms the interest calculations and payment schedules from the banking side.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Frequently Asked Questions
Why is interest payment audit divided between two bodies?▼
Does the Accountant General (A&E) have any role in this audit?▼
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.