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Which of the following is the correct definition of the term commercial papers?

I. It is nothing but the popular name of the judicial stamp papers used to register financial transactions.

II. It is one of the instruments through which corporates raise debt from the market.

III. It is the name of the 'Certificate of Deposits' (CD) provided by the bank to its retail customers.

Select the correct answer using the codes given below:

A)  Only I                         

B)  Only II

C)  Only III                       

D)  Both I and II

E)  All of these