Commercial Paper and Certificate of Deposit

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Commercial Paper and Certificate of Deposit - Article

Commercial Paper (CP) and Certificate of Deposit (CD) are negotiable money-market instruments used for short-term funding and investment. CP is an **unsecured promissory note issued by eligible non-bank and institutional issuers**, while CD represents funds raised by eligible banks. This article explains their current RBI framework, tenor, denomination, issue structure, participants, trading, risks, and important CAIIB differences.

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