Issuances of short-term money market instruments rose on Wednesday as mutual funds, the major investors in such papers, purchased certificates of deposit (CDs) due to inflows to their schemes, dealers said.
On Wednesday, short-term money market instruments worth around Rs 3,025 crore were placed in the market as against Rs 1,600 crore on Tuesday.
Banks have raised huge amounts of funds since last week and so were not in a hurry to issue CDs on Wednesday.
Since last week, around Rs 20,000 crore worth of short-term money market instruments have been issued in the primary market.
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