The battle for short-term money is likely to intensify in March | Economics and Policy News – Business Standard

The battle for money among banks, especially for short-term funds, could intensify in the final month of the financial year to fuel demand for money for tax payments and meet year-end targets.

Mobilization of funds through certificates of deposit has tripled from around Rs 20,000 crore in the fortnight of January 26, 2024 to over Rs 60,000 crore in the fortnight ended February 23, 2024, according to Reserve Bank of India data.

Soumyajit Niyogi, director, Core Analytical Group, India Ratings & Research, said banks were waiting till January hoping for improvement in liquidity. But after I was convinced

First print: March 4, 2024 | 12:55 pm IST