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Rates on CDs remain above 8%
June 18, 2013June 18, 2013by In Infrastructure Finance

Rates on CDs remain above 8%

Owing to the outflow of corporate advance tax from the banking system, rates on the Certificates of Deposit (CDs) are ruling high above 8 percent, media reports indicate. The first instalment of corporate advance tax is due on June 15. Advance tax outflow has strained liquidity in the banking system with banks borrowing about Rs 85,000 crore on an average under RBIÂ’s liquidity adjustment facilit