This is how individual cautionary measures, such as the selling of financial assets when associated risks increase, can become systemic problems. •  Third, authorities in some of the most developed countries failed to identify the origin and anticipate the spread of the crisis quickly enough. Initial responses were in some cases tardy and insufficient.
However, major changes were effected last in October 2000, when the organic link of issuance of CP in relation to working capital (fund based) limit was severed and CP was allowed to be issued as a “stand alone” product. At present, CP issuers should have minimum credit rating P2 or its equivalent and CP can be issued in denomination of Rs.