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These are unsecured promissory note issued by highly reputed corporate whose tangible assets are equal to or more than 5 crore. Credit rating of debt instrument is compulsory. Commercial paper must be rated by some highly reputed credit agencies and this rating should not be older than 3 months. These are issued for a minimum of 50 lacs or more in the multiple of 10 lacs. It is subscribed by individual, corporate, Banking company, insurance company, financial institution investors and NRIs also.
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