Development of Commercial Paper in India

Author(s)	Renu Bala
Country	-
Abstract	The role of financial markets is to enable allocation of savings from the surplus holders to the borrowers in an efficient manner. “Efficient and equilibrating financial system develops only when financial institutions, financial instruments and financial markets make innovations in tune with the changing preferences of savers and investors and improving allocation and operational efficiency. Innovative financial instruments to suit the changing needs are possible channels for developing efficient and organized money markets” (Pandey, DP 1990). RBI following the recommendations of Vaghul Working Group (VWG) introduced innovative financial instruments like CP and Certificate of Deposit in 1990. RBI issued guidelines allowing companies to access through CP as a New Year Gift for the year, from 1st January 1990 to the market and particularly to the blue chip corporate with an implied challenge to make success of CP in the money market (RBI – Guidelines 1990).
Keywords	-
Field	Business Administration
Published In	Volume 2, Issue 1, January-February 2020
Published On	2020-02-27
Cite This	Development of Commercial Paper in India - Renu Bala - IJFMR Volume 2, Issue 1, January-February 2020.

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