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Who Can Issue NCDs in India?
NCDs are issued by businesses to raise funds. A business is eligible to issue NCDs if it meets following criteria:
1. Has net worth of equal to or more than Rs. 4 crore
2. Has been sanctioned working capital limit or term loan by a bank
3. Its borrower account is classified as a Standard Asset by the bank
4. Gets credit rating for issuance of the NCDs from one of the rating agencies-CRISIL, ICRA, CARE or the FITCH Ratings India Pvt. Ltd.
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