Commercial paper (CP) has become a popular instrument for corporates to finance working capital. Lending institutions, especially banks are also comfortable in investing such issues as these instruments have a good secondary market. The rates at which the instruments are issued depends on the rating of the issuer, besides market conditoins (For rating please check our Credit Rating Section).

We have gathered information about the CP issues made since April 1997 from the Reserve Bank of India and included it in our query-able database. We have added graphs which will let you capture a snapshot of the market as it has evolved over the years. We have tracked the movement of the spreads also which is an indicator of the maturity of the market. We will be updating our information database as and when new data is made available by RBI.

We have detailed the draft guidelines issued by Reserve Bank of India as follows :-

1. RBI guidelines on issue of Commercial Paper.
2. Format of Commercial Paper Instrument.
3. Format of proposal for :
   (a) Corporates
   (b) Primary Dealers / Sattelite Dealers
   (c) All India Financial Institutions.

See database for outstanding CP's, fresh issue in fortnight, lowest and highest interest rate and band