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Floating share debt rising: Govt faces rollover risk of Rs3tr
 Muzaffar Hameed August 24, 2011, 02:07:39 AM 

The share of debt maturing within a year is so high in the total domestic debt that it has created rollover risk for the government which is running short of liquidity, said bankers experiencing acute liquidity problem. The liquidity crunch in the banking system has also intensified the government problems to payback the huge sum of floating debt of worth Rs3.235 trillion within a year. Due to higher inflation and low return on deposits it has minimized chances for banks to raise long-term deposits. The depositors either prefer to put money for short term or invest in government papers like saving schemes. Bankers said the share of debt maturing within a year has been increasing and it might be around 55 per cent of the total domestic debt. However, the State Bank in its earlier report had said the share of floating debt in total outstanding domestic debt had reached 52.2 per cent by end March 2011. Full story

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