What are the various characteristics or features of Treasury Bills?
Treasury Bill is basically a short-term securities issued by the Government.
The Characteristics of Treasury Bill are:
1. These are issued as a promissory note at discount over their face value.
2. It is used to raise short term funds to bridge seasonal/temporary gaps between receipt and expenditure of the Govt.
3. It is a negotiable instrument.
4. Assured yield and low transaction cost.
5. Eligibility for inclusion in SLR.
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