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Treasury bills are best described as securities that are:
AFloat coupon
BZero coupon
CZonal coupon
DFixed coupon
Answer & Solution
Correct answer: B. Zero coupon
1. They are zero coupon securities.
2. The gain comes from a discount at issue.
3. They pay no interest as such.
_Source: RBI, FAQs on the Government Securities Market in India_
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