Axis Bank offers corporate entities the option to raise short-term money via Commercial Papers. These Commercial Papers are issued in the nature of a promissory note as per RBI guidelines and are held in dematerialised form. They can be issued for a maximum period of 1 year and also need to be mandatorily rated by one of the four credit rating agencies in India.
To find out more about money market commercial papers online, visit the Axis Bank website.
- A CP is a money market instrument through which corporate entities raise short-term money
- Issued as per RBI guidelines
- It is issued at a discount to face value
- Is in the nature of a promissory note and is held in dematerialised form
- Attracts issuance stamp duty in primary issue
- Has to be mandatorily rated by one of the four credit rating agencies
- Can be issued for a maximum period of 1 year
- Can be issued in dematerialised form