Ira Singh
Khabar Khabaron Ki,25 Jan’24
The banking system is grappling with a liquidity deficit that has soared to a 10-year high, marking a concerning financial landscape. According to the Reserve Bank of India’s (RBI) data, liquidity in the banking system is in deficit of around Rs 3.34 lakh crore on January 23, higher from Rs 2.72 lakh crore on January 22.In response to a mounting liquidity deficit in the banking system, the Reserve Bank of India (RBI) has announced a robust move to infuse ₹2.50-lakh crore through a 15-day variable rate repo (VRR) auction scheduled for Thursday, according to sources.
The liquidity deficit means the amount of funds banks need to borrow from the interbank market or from the central bank. Reportedly,the liquidity deficit is highest since March 31, 2010.
A paradoxical scenario is unfolding as the central government amasses substantial cash balances with the Reserve Bank of India (RBI), primarily fueled by inflows from Goods and Services Tax (GST) and advance payments,market experts are expressing growing concerns as these considerable reserves remain largely unspent.
Overall liquidity in the banking system includes VRR auctions, liquidity drawn from the marginal standing facility, surplus funds parked at the standing deposit facility, and liquidity infused by the RBI via various long-term repo operations during the Covid-19 period (2021), according to information.
In the current month so far, the maximum liquidity that the central bank infused was ₹1.75-lakh crore via a 13-day VRR on January 12th, according to sources.
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