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RBI Releases Revised Draft Directions on Commercial Papers (CPs) for Public Comments

Commercial Papers (CPs) were introduced to enable corporate borrowers to diversify their sources of short-term borrowings as also to provide an additional instrument to investors. The guidelines prescribed for issue of CPs have been amended from time to time and the last review was done in October 2012.

To broaden access, strengthen disclosure requirements by issuers of CPs, review the role of issuing and paying agents (IPAs) and put in place an information dissemination mechanism, the existing directions on CPs have been reviewed.

The revised draft directions are placed on the Bank’s website for public comments. - LINK

Comments on the draft directions may be sent email (cgmfmrd@rbi.org.in) by Friday, February 24, 2017. The final directions will be issued after taking into account the feedback received.

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