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Q:
A) Derivative Usance Promissory Note | B) Usance Promissory Note |
C) Demand Promissory Note | D) Both a & b |
Answer: B) Usance Promissory Note
Explanation:
Explanation:
The Certificate of Deposit (CD) is a negotiable money market instrument and issued in dematerialised form or as a Usance Promissory Note against funds deposited at a bank or other eligible financial institution for a specified time period. (Usance Promissory Note has to be paid after certain time period).