Punjab National Bank, SIDBI, Axis Bank, IDFC First Bank and Bank of India remained top five issuers in October raising around Rs 37,490 crore.
Of the total CD issued in June, share of Bank of Baroda, Canara Bank, Punjab National Bank, Union Bank of India, HDFC Bank, and Axis Bank, remained 76.2 percent.
According to the Prime database, banks raised Rs 82,580 crore through CDs in May, which was 35.12 percent up on a yearly basis.
Outstanding certificates of deposits rose around 18 percent on-year in November, and commercial papers rose 10 percent on-year, according to NSDL data.
In July, rates on the CPs maturing in three months rose by 10-15 basis points.
The move will remove a little over Rs 1 lakh crore from the banking system, pushing up short-term rates of money market instruments like treasury bills, commercial papers, call money, etc.
Indian companies raised Rs 1.51 lakh crore in June, which is up 27.4 percent from Rs 1.18 lakh crore in May.
Latha Venkatesh of CNBC-TV18 gives an analysis and reasons why banks saw a sell off.