01-01-1970 12:00 AM | Source: Reuters
India`s banking system liquidity slips into deficit first time in FY24
India's banking system liquidity has slipped into deficit for the first time this financial year after the Reserve Bank of India's temporary liquidity withdrawal move and tax outflows.
Banking system liquidity stood at a deficit or 236 billion rupees ($2.84 billion) as of Aug. 21, according to RBI data.
Surplus had hit a high of 2.8 trillion rupees at the start of this month, but has since been dropping, especially after the RBI told banks to hold an incremental cash reserve ratio (CRR) of 10% on increase in deposits between May 19 and July 28, which has led to withdrawal of over one trillion rupees.
Latest News
BMW earnings hit by model change, lower profits on e...
Daily Market Commentary : Nifty recovered from lower...
Evening Roundup : A Daily Report on Bullion Energy &...
Ex-Tesla executives-led DG Innovate enters India in ...
Hero MotoCorp posts 18 per cent rise in Q4 net profi...
McDonald's India franchisee Westlife`s profit nearly...
Market Wrap Up : Today, the benchmark indices witnes...
Can Vijay Shekhar Sharma fix Paytm's woes as he take...
Tax Expert`s Comment on High Court ruling on Provide...
FIIs stood as net sellers in equities as per May 08 ...