What is difference between NCD and bond?

The major differences between NCDs and Bonds are as follows:

1. NCDs cannot be converted into shares, while bonds can be convertible or nonconvertible.
2. NCDs are issued by corporations or financial institutions, while bonds are issued by corporations, governments or municipalities.
3. The issuance of NCDs is regulated by SEBI (Securities and Exchange Board of India) while the issuance of bonds is regulated by the relevant authorities such as SEBI or RBI in India.
4. Bonds are less risky than NCDs as they are more secure than NCDs.