Difference between commercial paper and certificate of deposit
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Commercial paper (CP) is a short term unsecured usance promissory note issued at a discount to face value by any private sector company, public sector unit, non-banking company, Primary Dealers (PDs), Satellite Dealers(SDs) etc. Earlier Certificate of Deposits (CDs) were issued by all scheduled commercial banks other than scheduled co-operative banks and regional rural banks.. In 1993 six financial institutions namely SIDBI,IDBI, IFCI,IRBI,ICICI and EXIM banks were also permitted to issue CDs.
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