RBI to manage Telangana's finances from June 2

Will act as sole agent for investment of govt funds

The Reserve Bank of India (RBI) under an agreement with the newly formed state of Telangana will manage its rupee public debt and act as the sole agent for investment of government funds from June 2, it said in a statement on Tuesday.

The agreement follows the reorganisation of the state of Andhra Pradesh into two separate states earlier this year.