With reference to the Commercial Paper, consider the following statements:
1. It is a secured money market instrument issued in the form of a promissory note.
2. It was introduced in India in 1990 with a view to enabling highly rated corporate borrowers to diversify their sources of short-term borrowings.
3. Corporates, primary dealers (PDs) and the All-India Financial Institutions (FIs) are eligible to issue CP.
Which of the above statement is/are correct?
1
2 and 3 only
2
1 and 2 only
3
3 only
4
1, 2, and 3