The correct answer is Government of India. Explanation & Key Takeaways: • Treasury bills are short-term securities issued by the Government of India. • Treasury bills are issued by the government to raise short-term funds to meet its expenditure needs. • The bills are issued at a discount to their face value, and the difference between the face value and the issue price is the interest earned by the investor. • The Reserve Bank of India acts as the issuing and paying agent for the government in the issuance of treasury bills. • The bills are issued for a tenure of 91 days, 182 days, and 364 days, and are highly liquid as they can be easily traded in the secondary market Related Concepts: • Securities and Exchange Board of India (SEBI) is the regulatory body that oversees the functioning of the securities market in India and regulates the activities of various market intermediaries such as stockbrokers, mutual funds, and portfolio managers. • Insurance Regulatory Authority of India (IRDA) is the regulatory body that oversees the functioning of the insurance industry in India and regulates the activities of insurance companies, agents, and brokers.