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Development of the Market
Until 1950s, T-Bills were issued by both the Central and State Governments and from 1950s, it is only the Central Government that is issuing Treasury bills. Up to 1965, the mode of issue of T-bills to the public were through bi-weekly auctions or tenders. In 1965, the concept of ‘intermediate' T-bills were introduced and were sold for few years. According to this mode, T-bills had a maturity of 91 days and the rates were fixed by the RBI. The day succeeding the day of the usual weekly auction till the day preceding the next auction, was fixed for receiving the tenders for the next auction. The mode of issuing T-bills has changed from 12th July, 1965. Instead of inviting tenders, the T-bills were made available throughout the week at specified rates from time to time. This change in issuance has facilitated an increase in selling of T-bills (as the commercial banks were investing their short-term surpluses in these instruments). As the government raised its finances by issuing ad hoc T-bills to RBI, which is technically a short-term source, but, in practice, it is long-term in nature. In the sense, the ad hoc treasury bills are notionally discharged and renewed on maturity. Therefore, finance raised by the government in this form is technically short-term finance, but in reality ends as a long-term finance.
Q. Explain about Death Benefit? Death Benefit - Amounts received under a life insurance contract and paid by reason of death of the insured. (Even though most death benefits ar
These were first issued during a period of extreme interest rate volatility in the late 1970s. Floating-rate bonds, which are also known as variable-rate bonds or simpl
Following is the information furnished by a private port for investing Rs. 10 crore in a 20 Tonne Gantry Crane. The entire funding is from a loan carrying an interest of 11%. The l
Compare and contrast a defined benefit and a defined contribution pension plan. In a defined benefit plan, retirement benefits are defined by a formula that generally considers t
Q. Can you explain about Overdrafts? Overdraft means an agreement with a bank by which a current account-holder is allowed to withdraw more than the balance to his credit up to
i have Passed all three level of CFA program and i want to join you expert team. will you please tell me will this happen
Convertible bonds are the debt instruments issued which can be converted after a pre-specified date for a pre-specified number of securities (generally equity stock). I
Q. Illustrate Earning Yield Method? Earning Yield Method: - As per this method, cost of equity capital is calculated by establishing a relationship between earning per share an
what is financing mix?
QUASI-INSTRUMENTS These instruments are considered as debt instruments for a time-frame and are converted into equity at the option of the investor (or at company's option) aft
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