Bank Promotion Exams

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1. Unsecured money market instrument issued in the form of promissory note in terms of RBI Act Sec-45w

2. Can be issued by corporate/primary dealers /all India financial institutions

3. Corporate can issue
1. If tangible net worth is not less than 4 crores as per latest Balance sheet
2. Company is sanctioned working capital limit by Bank or All India financial institutions
3. Borrowal account is standard asset

4. All eligible people (including corporate) must obtain credit rating from any one of the CRAs registered with SEBI

5. Minimum rating of A3

6. Minimum 7 days maximum upto 1 year

7. Maturity date should fall within the period of credit rating

8. Minimum 5 lakhs & multiple of 5 lakhs

9. Total CP proposed to be raised within 2 weeks

10. Only a scheduled Bank can act at issuing & paying agent (IPA)

11. Individuals, Banking companies, other corporate bodies, NRI /FII (within the limit prescribed by SEBI)

12. Either a promissory or dematerialized form