CD fundraising hits eight-month high as credit growth gains traction

Fundraising through certificates of deposit rose to an eightmonth high in December due to increased issuances by private banks as economic activity gathered pace and boosted demand for credit. Loan growth had hit an over eight-month high of 6.66%, in the fortnight ended Jan 1. Fundraising through CDs amounted to 277.95 bln rupees in December, rising sixfold from a month ago, according to data compiled by Cogencis.