'Time Deposits of Bank' and 'Certificate of Deposits' are one and the same. Do you agree with it? If your answer is 'YES' mention the points of similarity and if your answer is 'NO' mention the points which differentiate

No. I do not agree. 'Time Deposits of Bank' (TD) and 'Certificate of Deposits' (CD) are quite different. The following points are unique to the CD only: CD is a money market instruments in the form of a negotiable usance promissory note but TD of bank is not a negotiable instrument. It is issued at a discount to face value either in dematerialised form or as a Usance Promissory Note, against funds deposited by an investor with a bank or other eligible financial institution for a specified time period. CDs are issued by scheduled commercial banks and select AIFIs as per RBI directions but bank TDs are issued by all types of banks. Regional Rural Banks and Local Area Banks cannot issue CDs. CDs can be issued between 7 days and not exceeding one year, from the date of issue. AIFIs can issue CDs for a minimum period of 1 year and a maximum of 3 years, from the date of issue but TD can be issued for more than one year. Minimum amount of CD issue will be for a face value of ₹ 1 lac to an investor and it will be issued in multiples of ₹ 1 lac but no such restrictions in bank TD. CDs can be issued to individuals (excluding minors), corporations, companies (including banks and PDs), trusts, funds, associations, etc. Non-Resident Indians (NRIs), can subscribe to CDs on non-repatriable basis only. Such CDs cannot be transferred to another NRI in the secondary market. Premature cancellation not allowed but in case of bank TD it is allowed. Loan against collateral of CD not permitted exception; holder is Mutual funds, but loan against bank's own deposits are allowed. In view of the above facts, "Time Deposits of Bank" and "Certificate of Deposits" are not the same.