Mutual funds preferred to remain on the sidelines today due to limited inflows in their schemes, dealers said.
The banks today raised around Rs 230 crore via certificates of deposit (CD) compared with Rs 1,250 crore Friday. In December, banks have raised Rs 48,000 crore through CDs compared with Rs 25,300 crore in the previous month.
The rates on short-term papers also rose marginally today because of low investor demand, dealers said. Three-month CDs were dealt at 9.05-9.15 per cent compared with 9.00-9.05 per cent Friday and three-month CPs at 9.05-9.15 per cent compared with 9.05-9.15 per cent.
Rates on one-year papers were 9.50-9.70 per cent, compared with 9.45-9.70 per cent Friday.