Certificate of Deposits was introduced in India in ---.
A1989
B1991
C1985
D1993
Answer:
A. 1989
Read Explanation:
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