The Reserve Bank of India has tweaked norms for the issuance of commercial papers (CPs) and non-convertible debentures (NCDs) of up to one year to regulate short-term investments and ensure transparency in the market. With respect to the information provided above, consider the following statements-  I. The settlement period was capped at T+4, which means the transactions need to be settled within four days from the trade date. Individuals and Hindu Undivided Families (HU

• F were restricted to investing a maximum of 25 percent of their total income.  II. All residents are eligible to invest in commercial papers and non-convertible debentures. Non-residents are not  eligible to invest in CPs and NCDs not even under FEMA or the rules framed under. III. The tenor of a CP cannot be less than seven days or more than a year. The tenor of an NCD cannot be less than 90 days or more than one year. IV. The minimum credit rating assigned by a credit rating agency for the issuance of CPs and NCDs will be 'A1' as per rating symbol and definition as prescribed by Sebi. Which of the following statements is/are TRUE ?