CURRENT AFFAIRS : BANKING & FINANCE
India’s banking system liquidity slips into deficit for 1st time in FY24
- India’s banking system liquidity has slipped into deficit for the 1st time this financial year(2023) after the Reserve Bank of India’s temporary liquidity withdrawal move and tax outflows.
Key Highlights :
- As of August 21, 2023, the liquidity of the Indian banking system was reported at Rs 236 billion ($2.84 billion), according to data provided by the Reserve Bank of India (RBI).
- This marked a significant departure from the scenario at the beginning of August 2023 when the banking system enjoyed a surplus liquidity of 2.8 trillion rupees.
