You are here: Home » Economy & Policy » News » Demonetisation
Business Standard

Unravelling the mystery behind Rs 3-lakh crore deposits in 15 days

The 2nd fortnight of Sept saw Rs 3 lakh cr of time deposits, something unique, followed by liquidation of Rs 1.2 lakh cr of these right after

Ishan Bakshi & Nitin Sethi  |  New Delhi 

From September 16 to 30, a staggering Rs 3.03 lakh crore of time deposits — fixed and recurring — were made at banks. This has never happened in any fortnight since January 2001.   September 16 is also the date from which the Reserve Bank India (RBI), in a rare later decision, chose to implement an incremental Cash Reserve Ratio rule of 100 per cent, retrospectively. RBI said this was done to impound additional cash flowing into banks, assessing the impact of demonetisation, which was announced only on the night of November 8.   Clearly, then, RBI was aware ...


Key stories on are available to premium subscribers only.


REMEMBER ME Forgot password?

Not a member yet ? Resister Now

Connect using any below

  • Don't lose the opportunity of saving $26.77 per month
  • Don't lose the opportunity of saving $26.77 per month
Total Amount
Rs. 0.00
To proceed, kindly select a subscription package


On Business Standard Digital

  • Access your subscription from anywhere. Be it your computer, tablet or smartphone using a browser or the App, Your Choice.
  • Access to exclusive content, features, opinions and comment, hand-picked by our editors, just for you.
  • Pick your 5 favourite companies. Get all the news upates at the end of each day through E-Mail.
  • Pick the industry that you want to track. And get a daily news letter specific to that industry. Cut out the clutter.
  • And stay on top of your investments. Track stock prices in your portfolio
  • Access 18 years of archival data

On Digital

  • Seamless access to with your Business Standard digital account.
  • Experience the best of the Journal's reporting, video and interactive features.
  • Read about the people and events shaping business, finance, technology, politics, technology and culture.
  • Stay informed with newsletters - an easy way to get WSJ content straight to your inbox - making life easier on your busiest days.
  • More business executives read the Journal globally than any other publication.
*Note :
Our Partners are proud to be associated with this initiative and will contribute Rs 100 x 6 months thereafter, standard rate of Rs 149 will be charged.
Offer valid for Indian residents only
Requires you to share personal information like PAN, Date of Birth, and Income.
*Annual saving on WSJ subscription price of US$ 347.88 (12 months @ US$ 28.99 per month)
* 1US$ = 67.50 INR.
*Please note that this offer is not valid if you are/were a registered/existing user on WSJ Digital
First Published: Fri, December 09 2016. 08:35 IST