Commercial paper is a short-term, unsecured debt instrument with a duration of 1 to 270 days. It is unsecured because it is not usually backed by any form of collateral.
Further Readings –
|Types of Money||Syllabus and Strategy for UPSC Economy|
|List of Committees & Their Purposes||UPSC Mains General Studies Paper-3 Strategy, Syllabus & Structure|
|National Payments Corporation of India (NPCI)||UPSC Mains Economy Questions|