The various types of Commercial Bill are as follows:
(i) Demand  bills
(ii) Clean bill and documentary bills
(iii) Inland bills and foreign bills
(iv) Indigenous bills
(v) Accommodation and Supply bills.
         (i) Demand bills: A demand bill is one wherein no specific time of payment is mentioned.
         (ii) Clean bills and documentary bills: Bills that are accompanied by documents of title to goods are called documentary bills. Eg: Railway Receipt and Lorry Receipt.
        (iii) Inland bills and Foreign bills: Bills that are drawn and payable in India on a person who is resident in India are called inland bills. Bills that are drawn outside India and are payable either in India or outside India are called foreign bills.

Features of certificate of deposits are:
(i) Document of title to time deposit
(ii) It is unsecured negotiable instruments.
(iii) It is freely transferable by endorsement and delivery.
(iv) It is issued at discount to face value.
(v) It is repayable on a fixed date without grace days.

Treasury bills are issued to the public and other financial ínstitutíons for rneeting the short-tern financial requirernents of theCentral Governnent. These bills are freely rnarketable and they can be bought and old at any tíme and these bilis are tradable in secondary market as well.
On the basis of periodicity, Treasury bills maybe classified into three. They are:
     (a) 91 days Treasury bills
     (b) 182 days Treasury bills and
     (c) 364 days Treasury bills
(i)Ninety one days Treasury bills are issued at a fixed discount rate of 4 per cent as well as through auctions.
(ii)The RBI holds 91 days and 182 days Treasury bills and they are issued on tap basis throughout the week.
(iii)364 days Treasury Bills do not carry any fixed rate.The discount rate on these bills are quoted in auction by the participants and accepted by the authorities. Such a rate is called cut off rate.

There are many participants in the Money Market.
The participants are as follows:
(i) Government of different countries
(ii) Central banks of different countries
(iii) Private and Public banks
(iv) Mutual fund institutions
(v) Insurance companies
(vi) Non-Banking Financial Institutions
 

The treasury Bills incorporate the following general features:
(i) Issuer
(ii) Finance Bills
(iii) Liquidity
(iv) Vital Source
(v) Monetary Management