 "RBI, Reserve Bank of India")
The need for money among banks, especially for short-term funds, may turn more intense in the last month of the financial year to feed the demand for capital for tax payments and meet year-end targets.
The mobilisation of funds via the certificate of deposits (CDs) has seen a threefold increase to over Rs 60,000 crore in the fortnight that ended February 23 from around Rs 20,000 crore in the fortnight of January 26, 2024, according to the Reserve Bank of India (RBI) data.
Soumyajit Niyogi, Director, Core Analytical Group, India Ratings & Research said banks waited till January in the
