Question

Certificate of Deposits was introduced in India as per directions of

• A. SEBI
• B. IRDAI
• C. RBI
• D. Ministry of Finance

Answer 1

Answer:

C. RBI

Certificate of Deposits:

• Certificate of deposits is a negotiable money market instrument issued in dematerialized form or usance promissory note, against the fund deposited at a bank or other eligible financial institutions issued for a period of time. 

• Certificate of Deposits was introduced in India in 1989. 

• CDs issued as per directions of RBI

• Minimum Amount - 1 Lakh and can invest it's multiples