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Commodities and securities market, transactions are cash based and delivered immediately. Contracts are usually immediately effective.
It’s a debt security i.e. a long term financial obligation or secured loan issued through underwriting or auctions by either the government or corporate organisations.
- Short-term debt instrument.
- Issued at zero coupon rates i.e. no interest paid during the life cycle of the bill.
- Issued in fixed tenures i.e. 91 days, 182 days and 364 days.
- T-bills qualify as liquid assets for the purpose of liquidity ratio computation.
- Used as collateral securities for repurchase transactions.
- Interest received not subject to tax.