Q. Which of the following institution/s is/are can issue the commercial bill?
1.Non-Banking Finance Companies
2.Scheduled Commercial Banks
3.Merchant Banks
How many of the statements given above are correct?
Answer: C
Notes:
Explanation: Commercial Bill (CB): Organised in 1990, a CB is issued by the All-India Financial Institutions (AIFIs), Non-Banking Finance Companies (NBFCs), Scheduled Commercial Banks, Merchant Banks, Co-operative Banks and the Mutual Funds. It replaced the old Bill Market available since 1952 in the country.
Source: FORUMIAS
