· The growth in non food credit picked up marginally to 15.7% during the fortnight ended February 12, 2010. The growth in deposit mobilization also remained lower at 16.7%.
· The CD ratio also inched up to 71.0% during the week ending February 12, 2010. The incremental CD ratio also increased to 66.0% during the week ending February 12, 2010.
· The call rates continue to hover around the lower end of the LAF corridor. The spread between call money and reverse repo rates was 2bps as on February 25, 2010.
· Short end of the yield curve move up by 25-28ps over last month in line with of tightening of monetary policy. The 10 year bond yields stood at a 7.8% as on February 23, 2010 while 1 year bond yield stood at 5.30%
· The government announced net government borrowing of Rs3.5tn and estimated the fiscal deficit at 5.5% for FY11, in the Budget.
· Events to watch – India foreign trade data & industrial production, Japan GDP and industrial production
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