India
Inter-Corporate Deposits (ICD) is an unsecured borrowing by corporate and FIs from other corporate entities registered under the Companies Act 1956.
The corporate having surplus funds would lend to another corporate in need of funds. This lending would be an uncollateralized basis and hence a higher rate of interest would be demanded by the lender. The short term credit rating of the corporate would determine the rate at which the corporate would be able to borrow funds. Further the credit spreads demanded even for the top rated corporate would be higher than similar rated banks and the rates on ICDs would be higher than those in the Certificate of Deposit (CD) market. The tenor of ICD may range from 1 day to 1 year, but the most common tenor of borrowing is for 90 days.
Established in 1998, we would like to introduce ourselves as Chandra Credit Ltd., a name thats famous by the brand name Chandra Credit in common market parlance.
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