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The battle for money amongst banks, especially for short-term funds, may turn more intense in the final month of the financial year to feed the demand for funds for tax payments and meet year-end targets.
The mobilisation of funds via certificates of deposit has grown threefold to over Rs 60,000 crore in the fortnight ended February 23 from around Rs 20,000 crore in the fortnight of January 26, 2024, according to Reserve Bank of India data.
Soumyajit Niyogi, Director, Core Analytical Group, India Ratings & Research said banks waited till January in the hope of improvement in liquidity. But after getting convinced
First Published: Mar 04 2024 | 12:55 AM IST
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