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      Question

      Which of the following actions is NOT permitted in the

      issuance of Commercial Paper (CP) and Non-Convertible Debentures (NCDs) with a maturity of up to one year?
      A Issuance in dematerialized form Correct Answer Incorrect Answer
      B Issuance with a call/put option Correct Answer Incorrect Answer
      C Issuance with a minimum denomination of ₹5 lakh Correct Answer Incorrect Answer
      D Tenure of CP not less than seven days Correct Answer Incorrect Answer
      E Issuance settled within T+4 working days Correct Answer Incorrect Answer

      Solution

      The circular "Master Direction – Reserve Bank of India (Commercial Paper and Non-Convertible Debentures of original or initial maturity up to one year)" specifies that issuance of CP/NCD with call/put options is not permitted.

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