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Informist, Monday, Apr. 13, 2026

By Nandini Sinha

MUMBAI – Rates on certificates of deposit fell Monday owing to ample liquidity in the banking system, dealers said. Mutual funds were seen investing in certificates of deposit, a dealer at a state-owned bank said. The net liquidity absorbed by the Reserve Bank of India, a proxy for the liquidity surplus in the banking system, was INR 5.55 trillion Sunday, unchanged from Saturday and the highest since May 2022.

In the primary market, rates for three-month CD were at 6.09-6.12%. Rates on six-month CD fell to 6.45-6.50% from 6.90-7.00% Friday while those on one-year CD were in the range of 6.95-7.00%, from 6.95-7.70%, dealers said.

Mostly public-sector undertakings traded in the primary market of CD, dealers said. Indian Bank raised INR 10 billion and Canara Bank raised INR 34.50 billion, both through CD maturing on Jul. 1 at 6.09%. In the commercial paper market, Bharat Petroleum Corp. Ltd. raised INR 30 billion through one-month paper maturing May 13 at 5.6%.

Trading volume in the secondary market of CD was INR 68 billion Monday, down sharply from INR 142.95 billion Friday. The traded volume of CP rose to INR 28.75 billion from INR 18.50 billion Friday.

--Primary market

* Indian Bank, Canara Bank, and HDFC Bank raised funds via CD

* Bharat Petroleum Corp. Ltd., Reliance Jio Infocomm Ltd. raised funds via CP

--Secondary market

* Axis Bank Ltd.'s CD maturing on Apr. 29 was traded twice at a weighted average yield of 5.6493%

* Power Finance Corp. Ltd.'s CP maturing on Apr. 15 was traded thrice at a weighted average yield of 4.9654%

Following were the volumes, in INR billion, in the secondary market for short-term debt at 1700 IST, as detailed by the Clearing Corp. of India's F-TRAC platform:

End

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

With inputs from J. Navya Sruthi

Edited by Rajeev Pai

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