Government’s cash surplus tops Rs 3.4 lakh crore

Apart from the deceleration in government spending, higher direct tax collections and a likely sharp rise in issuances of Treasury Bills by the Centre in FY24 were factors pushing up the government’s cash balances, analysts said. The flow of government cash balances to and from the banking system is a key factor that influences liquidity conditions.

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Asian stocks decline as traders retreat from tech

Asian markets opened lower mirroring losses in the US. Global investors adopted a risk-off approach. Technology stocks faced significant selling pressure. This sentiment impacted cryptocurrencies