Inter Corporate Deposits (ICD)
ICD market is used for short term cash management of the large corporates.
As per the RBI Guidelines, the Minimum period of ICDs is 7 days which can be extended to One year.
The ICDs are of two types:
Fixed Rate ICD : Interest rate is fixed and remains the same.
Floating Rate ICD: They are bechmarked to NSE’s MIBOR.