Liquidity deficit in banks hits ₹1.5L crore

The banking system in India faced a liquidity deficit of nearly Rs 1.5 lakh crore on Wednesday, primarily due to outflows related to advance tax payments and preparations for GST remittances ahead of the second quarter’s end. The Reserve Bank of India (RBI) announced that it had provided liquidity support of Rs 1.5 lakh crore on Monday.