Above 8% CD rates soar on tight liquidity, likely to head higher
Mumbai: One-year certificate of deposit (CD) rates at public-sector banks have risen above 8% in recent days, amid tight liquidity, elevated treasury-bill yields, and expectations of further increases…
Attributed summary
Mumbai: One-year certificate of deposit (CD) rates at public-sector banks have risen above 8% in recent days, amid tight liquidity, elevated treasury-bill yields, and expectations of further increases in policy rates to help restrain inflation.Comparable CD rates had fallen to around 6.6% in August, when FCNR(B) inflows left the banking system awash with liquidity.Banking system…
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