India's bank liquidity surplus hits all-time high riding flood of dollar deposits

MUMBAI: India's banking system liquidity surplus has jumped to a record high, with rupee liquidity surpassing levels witnessed in the aftermath of Covid-19, as lenders collected more dollars than expected under the central bank's deposit scheme.

Bank liquidity surplus stood at 9.7 trillion rupees ($102.67 billion) as of September 3, the highest ever recorded surplus, surpassing the 9.2 trillion rupees registered in September 2021.