Who is eligible to issue NCD in India?

Businesses issue NCDs to raise funds. If a business meets the following criteria, it is eligible to issue NCDs.

1. A net worth => Rs. 4 crore
2. A bank has approved a working capital limit or a term loan
3. The bank classifies it as a Standard Asset.
4. Receives a credit rating from one of the rating agencies - CRISIL, ICRA or CARE - for issuance of the NCDs. Ltd