....While SBI may be comfortable with its liquidity, it’s quite another story for the sector. After two rounds of cash reserve ratio cuts, banks are still borrowing Rs.70,000 crore to Rs.1 trillion under the Reserve Bank of India’s (RBI’s) liquidity adjustment facility. Not only that, banks have had to turn to alternative sources of financing such as certificates of deposit (CDs). Is it any wonder then that three-month, six-month and even one-year CD rates remain near their January highs?........
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