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FINANCIAL MARKET — OCM STD 12 Commerce — Question

Gujarat BoardEnglish MediumSTD 12 CommerceOCMFINANCIAL MARKET2 Marks
Question
What is a certificate of deposit?
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Answer

A certificate of deposit $(CD)$ is a money market instrument to procure short term finance from people. $CD$ can be issued to individuals, firms, companies, etc. by scheduled commercial banks and financial institutions.

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