Liquidity deficit in banking system at highest-ever, tops Rs 3 lakh cr after eight years

A consequence of the tight liquidity was elevated funding costs for banks as the weighted average call rate – which represents banks’ overnight cost of borrowing – rose to 6.85% on Wednesday, much above the RBI’s repo rate of 6.50% and higher than the Marginal Standing Facility (MSF) rate of 6.75%.

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