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

Money market

Collateralised Borrowing and Lending Obligations (CBLOs) were short-term money-market instruments used to facilitate secured borrowing and lending, generally against eligible securities such as government securities. They supported short-term liquidity management among financial institutions. Option A is incorrect because the bond market primarily deals with tradable debt securities and is not the specific market classification of CBLOs. Option B is incorrect because the forex market deals with foreign-currency transactions. Option D is incorrect because the stock market deals with equity securities. Hence, option C is correct.