- LOWER SPENDING, WEAK DEPOSITS
The liquidity deficit, as reflected by the amount of money injected by the Reserve Bank of India (RBI) into the banking system, stood at ₹2.11 trillion on Monday-its highest level since December 28 when the deficit stood at ₹2.68 trllion. The liquidity deficit seen in December was due to advance tax and goods and services tax (GST) payments.
"It (liquidity tightness) is a case of deposits rising at a lower rate than credit.
Both have slowed down, but the slowdown in deposits is more than in credit. Therefore, we are seeing a liquidity crunch in the system," said Madan Sabnavis, chief economist, Bank of Baroda.
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