Which of the following is the correct definition of the term commercial papers ?

1. It is nothing but the popular name of the Judicial stamp papers used to register
financial transactions.
2. It is one of the instruments through which Corporates raise debt from the market.
3. It is the name of the ‘Certificate of Deposits’ provided by the Banks to its retail
customers.

Answer
1 Only 3
2 All 1,2 and 3
3 Only 1
4 Only 2 (Correct Answer)
5 Both 1 and 2