Question

Read the passage This specific segment of the financial system is dedicated to the allocation and trading of short-term funds, with maturities ranging from overnight up to one year. It plays a critical role in resolving temporary liquidity mismatches within the economy and serves as a primary channel for the transmission of monetary policy operations executed by the central bank. Which of the following financial instruments is NOT a component of the market described above?

A Treasury Bills (T-Bills)
B Commercial Paper (CP)
C Certificate of Deposit (CD)
D Equity Shares
E Call Money
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