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Treasury Bill is basically a short-term securities issued by the Government.

The Characteristics of Treasury Bill are:

1. These are issued as a promissory note at discount over their face value.

2. It is used to raise short term funds to bridge seasonal/temporary gaps between receipt and expenditure of the Govt.

3. It is a negotiable instrument.

4. Assured yield and low transaction cost.

5. Eligibility for inclusion in SLR.

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Q: What are the various characteristics or features of Treasury Bills?
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