Certificates of deposit rates rose by 20 basis points today because of continuous supply from banks to meet their deposit targets, dealers said.
Bank of India placed six-month CDs at 7.40 per cent, compared with 7.15 per cent on Monday, while Syndicate Bank placed one-year CDs at 7.95 per cent versus 7.65 per cent.
CD issuance was pegged at Rs 3,800 crore, against Rs 3,100 crore on Monday. So far this month, banks have placed around Rs 28,000-29,000 crore of certificates of deposit.
Today, CDs maturing in July were dealt at 6.70-6.80 per cent, unchanged from Monday.
