In 2019, November 21, Tanmay finalizes a deal to buy a new car. So, he visits a nearby

branch of 'Punjab National Bank' to withdraw Rs 5 lakhs from his account in order to

pay token money to the dealer. In the bank he observes that a large number of customers

are present to withdraw the cash. During standing in the queue, he overhears some of the

bank staff members telling his colleague that "Today PNB is likely to fall short of cash

and to make up for the deficit and maintain its CRR it will have to approach another

bank."

In the context of the above case:

(a) Identify the instrument that Punjab National Bank will use to meet its short term

requirements of funds.

(b) State any three features of the instrument as identified in part (a)