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  • Certificates of Deposits

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    Mishri Sidhu
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    The scheme was introduced in July 1989, to enable the banking system to mobilise bulk deposits from the market, which they can have at competitive rates of interest. Who can issue certificates of deposits? Scheduled commercial banks (except RRBs) and All India Financial Institutions within their Umbrella limit'

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    The scheme was introduced in July 1989, to enable the banking system to mobilise bulk deposits from the market, which they can have at competitive rates of interest. Who can issue certificates of deposits? Scheduled commercial banks (except RRBs) and All India Financial Institutions within their Umbrella limit'

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
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    4 views4 pages

    Certificates of Deposits

    Uploaded by

    Mishri Sidhu
    The scheme was introduced in July 1989, to enable the banking system to mobilise bulk deposits from the market, which they can have at competitive rates of interest. Who can issue certificates of deposits? Scheduled commercial banks (except RRBs) and All India Financial Institutions within their Umbrella limit'

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 4

    Certificates of deposits

    This scheme was introduced in July 1989, to

    enable the banking system to mobilise bulk deposits from the market, which they can have at competitive rates of interest. The major features are: Who can issue Scheduled commercial banks (except RRBs) and All India Financial Institutions within their `Umbrella limit.

    Investors Individuals (other than minors),

    corporations, companies, trusts, funds, associations etc Maturity Min: 7 days Max : 12 Months (in case of FIs minimum 1 year and maximum 3 years). Amount Min: Rs.1 lac, beyond which in multiple of Rs.1 lac Intt. rate Market related. Fixed or floating Loan Against collateral of CD not permitted Pre-mature cancellation Not allowed

    Transfer Endorsement & delivery. Any time

    Nature Usance Promissory note. Can be issued in Dematerialisation form only only wef June 30, 2002

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