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Banks to hit 9-month peak in CD issuances
Mint Mumbai
|December 13, 2023
Indian banks are increasingly relying on certificates of deposit to meet short-term funding needs amid liquidity constraints, with December set to mark the highest issuance since March.
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Banks raised around ₹762 billion ($9.10 billion) through the sale of certificates of deposit (CDs) in November, registering the highest amount for this financial year, data from information provider Prime Database showed.
The fundraising momentum from lenders gathered pace, totalling ₹515 billion as of 11 December. In March, the concluding month of the previous financial year when liquidity typically tightens, banks had raised ₹1.10 trillion.
This story is from the December 13, 2023 edition of Mint Mumbai.
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