STCI Primary Dealer Ltd.

Products

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

Indias Q2FY18
India’s Q2FY18 GDP rose to 6.3% compared to 5.7% a quarter ago and 7.5% in the year ago period. GVA growth stood at 6.1% compared to 5.6% in Q1FY18
--------------------------------------------------
Fiscal deficit
Fiscal deficit for the Apr-Oct period stood at Rs 5.25 tn which is 96.1% of the budgeted fiscal deficit compared to 79.3% for the corresponding period in the previous year
--------------------------------------------------
In its Fifth
In its Fifth Bi-monthly Monetary Policy, RBI maintained ‘status quo’, leaving key policy rates unchanged.
--------------------------------------------------
Inflation projection
Inflation projection for H2 FY18 was revised marginally upwards to 4.3%-4.7% from 4.2%-4.6% previously.
--------------------------------------------------
Standing 130
Standing 130 bps higher, CPI for the month of November came in at 4.88% as compared to 3.58% in October mainly led by an unabated surge in vegetable and fuel prices. Core CPI also saw an uptick standing at 4.86% in Nov vis-à-vis 4.55% in Oct.
--------------------------------------------------
November WPI
November WPI stood at 3.93% up from 3.59% observed a month ago mainly led by inflationary pressures in primary articles.
--------------------------------------------------
Industrial
Industrial production as measured by IIP saw some moderation standing at 2.2% in Oct as compared to 4.2% in Sep. Strong growth impulses emanating from the mining sector aided, despite the sequential contraction observed in both manufacturing and electricity sectors.
--------------------------------------------------