Who is eligible to invest in NCDS?

NCDs can be issued to the following;

1. individuals, banks, Primary Dealers (PDs), other corporate bodies including insurance companies and mutual funds registered or incorporated in India and unincorporated bodies, Non-Resident Indians (NRIs) and Foreign Institutional Investors (FIIs).
2. Investments in NCDs by Banks/PDs shall be subject to approval of the concerned regulators.
3. Investments by the FIIs shall be within the limits as has been set forth by the SEBI.