Question

What common feature is shared by both Treasury Bills (T-Bills) and Cash Management Bills (CMBs)?

A They are both issued by commercial banks to handle liquidity.
B They both carry an identical maturity structure of up to one year.
C They are both unsecured promissory notes issued by the RBI.
D They are both zero-coupon instruments issued at a discount to face value with sovereign backing.
E Neither instrument can be used by banks to satisfy their SLR obligations.
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