Investment conditions for the Corporate Debt Market Development Fund.

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..... Fund shall purchase corporate debt securities from the specified debt-oriented schemes of mutual funds which meet the following eligibility criteria: (a) corporate debt securities shall be listed and have an investment grade rating; (b) the residual maturity of such securities shall not exceed five years on the date of purchase; (c) securities where there is no material possibility of default or a .....

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..... ate Debt Market Development Fund shall invest in liquid and low-risk debt instruments and undertake any other activity related to corporate debt market, as may be specified by the Board from time to time. (5) The Corporate Debt Market Development Fund shall buy corporate debt securities at fair price adjusted for liquidity risk, interest rate risk and credit risk but not at distress prices. (6) Th .....

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..... investment. Explanation: For the purpose of this sub-regulation, fund capital shall be the aggregate of the corpus of the fund and maximum permissible borrowing as per sub-regulation (9) of this regulation. (9) The Corporate Debt Market Development Fund may borrow funds up to ten times its corpus, subject to such conditions as may be specified by the Board in consultation with the Government of I .....

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