With reference to the Indian economy, “Collateral Borrowing and Lending Obligations” are the instruments of

Explanation

Option c is correct: The term “Collateralized Borrowing and Lending Obligation (CBLO)” is discussed in the context of money market instruments. CBLOs represent an agreement between a borrower and a lender, where the borrower provides collateral (such as government securities) in exchange for cash from the lender. These short-term instruments facilitate borrowing and lending in a fully collateralized environment, primarily in India’s financial markets.