AFTER injecting a relatively smaller amount of Rs50bn into the banking system on October 20, the central bank pumped in a much higher Rs1.28tr into financial institutions in an open market operation last Monday.

The injection was made in a four-day contract at 6.03pc. The central bank had received bids worth Rs1.323tr.

The government also raised Rs207.441bn from the auction of Treasury bills of various tenors on October 21, lower than its target of Rs250bn. Interestingly, it had received bids worth a much higher Rs589.078bn. The cut-off yields on the bonds were lower than in the previous auction.

Of the total, three-month T-bills fetched the highest amount of Rs97.58bn at a cut-off yield of 6.3038pc, followed by 12-month T-bills with Rs61.62bn at 6.3325pc and six-month T-bills with Rs48.23bn at 6.3305pc.

The investors had showed most interest in the 12-month T-bills, which had received bids worth Rs260.98bn, followed by three-month T-bills with Rs183.32bn and six-month T-bills with Rs144.78bn.

The investors had showed most interest in the 12-month T-bills, which had received bids worth Rs260.98bn in the latest auction

According to the weekly statement of position of all scheduled banks for the week ending October 16, gross advances of all scheduled banks rose 1.26pc to Rs4,620.89bn, against the preceding week’s figure of Rs4,563.369bn. When compared with last year’s corresponding figure of Rs4,306.053bn, the current week’s figure is higher by 7.31pc.

Advances by all commercial banks increased 1.32pc to Rs4,464.856bn in the week, against the previous week’s figure of Rs4,406.856bn. Advances by specialised banks stood at Rs156.652bn in the week, against the previous week’s figure of Rs156.512bn.

Investments of all scheduled banks stood at Rs6,526.5bn in the week under review, up 0.09pc from the preceding week’s level of Rs6,520.589bn. When compared with last year’s corresponding figure of Rs4,366.124bn, the current week’s figure is higher by 49.5pc.

Investments of all commercial banks stood at Rs6,496.255bn in the week, against the preceding week’s figure of Rs6,497.764bn, down a marginal 0.02pc. Investments of all specialised banks stood at Rs30.245bn in the week, against the preceding week’s figure of Rs22.825bn.

Deposits and other accounts of all scheduled banks decreased 0.02pc to Rs9,013.407bn in the week ending October 16, against the preceding week’s figure of Rs9,015.082bn. When compared with last year’s corresponding figure of Rs8,017.749bn, the current week’s figure is higher by 12.4pc.

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