April 01, 2015 12:23 am | Updated 12:23 am IST
NEW DELHI, 01/10/2013: Indian Currency being counted, in New Delhi on Tuesday. Photo: V. Sudershan
It is not just the government. Banks, too, need to balance its accounts. While some have rushed to raise funds to meet their last day needs of the financial year, still others have resisted lending in the call money market. As a consequence, rates have soared. The six-day cash rate has gone up to a two-year high of 15 per cent on Tuesday. At 15 per cent opening, the six-day cash rate is the highest since March 28, 2013.
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