STCI Primary Dealer Ltd.
Menu Close Menu

Products

    You are here : Home  >>  Products  >>  Money Market  >>  Inter Corporate Deposit
Skip Navigation Links.

Inter- Corporate Deposits
 
An Inter-Corporate Deposit (ICD) is an unsecured borrowing by corporates 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 is demanded by the lender. The short term credit rating of the borrowing corprorate would determine the rate at which it would be able to borrow funds. Further the credit spreads demanded even for the top rated corporates would be higher than similar rated banks and the rates on ICDs would 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.
 
Primary Dealers are permitted to borrow in the ICD market. The borrowing under ICD is restricted to 150% of the Net Owned Funds and the minimum tenor of borrowing is for 7 days. Primary Dealers cannot lend in the ICD market.
 
STCI Primary Dealer Ltd. borrows funds in the ICD market. The company has a credit rating of ‘A1+’ from ICRA and CRISIL for its Short Term Debt Programme. Corporates interested in placing deposits with us may contact on 022 6620 2213/232.
 
 
 

Latest News

Gross Domestic Product
• Real gross domestic product for Q3FY24 noted a growth of 8.4% on a year-on-year basis, as compared to 4.3% in Q3FY23
--------------------------------------------------
Monetary Policy
In the first Bi-monthly Monetary Policy for FY25, the MPC decided to maintain status quo on policy rates. Consequently, key policy rates stand unchanged: Repo rate at 6.50%, Standing Deposit Facility rate at 6.25% and Marginal Standing Facility and Bank rate at 6.75%.
--------------------------------------------------
Consumer Price Index
Consumer Price Index (Combined) inflation for March 2024 printed at 4.85%, lower than the previous month’s reading of 5.09%.
--------------------------------------------------
Wholesale Price Index
Headline WPI inflation for February 2024 printed at 0.2% as compared to 0.3% in the previous month.
--------------------------------------------------
Index of Industrial Production
IIP growth for February 2024 printed at 5.7%, higher than the revised reading of 4.1% in January 2024, on a year-on-year basis.reading of 4.2% in December 2023, on a year-on-year basis.
--------------------------------------------------