Answer: Option D
Answer: (d)
In money market, short term (less than one-year maturity), highly liquid and debt instruments are traded. State Development Loans (SDL) have a maturity of more than a year.
Cash management bills, Treasury bills and Certificate of deposits are debt instruments with less than one year maturity.
Certificate of Deposit (CD) is a negotiable/tradable money market instrument (a kind of Promissory Note) and issued in dematerialised form against funds deposited at a bank or other eligible financial institution for a specified time period.
(It is different from the Deposit certificates that individuals get when they deposit money in a bank that is non-tradable).