The inter-bank call money rate remained steady yesterday due to excess liquidity in the banking system although banks witnessed huge transactions on the last working day before the Eid-ul-Fitr holidays.

The rate rose slightly to 8.25 percent yesterday against 8.17 percent on

Monday, according to Bangladesh Bank data. The rate was 8.18 percent on Sunday.

“We have surplus funds despite the money withdrawal pressure," said Helal Ahmed Chowdhury, managing director of Pubali Bank. The overnight rate normally hovers between 15 percent and 20 percent ahead of Eid festivals, bankers said.

A large number of clients thronged banks to withdraw cash ahead of the Eid festival. Long queues were seen in almost all branches of banks, both public and private, in the capital.

"We saw a huge turnout yesterday. Clients withdrew around Tk 5 crore from my branch," said a manager of a privatebank in the Motijheel commercial area.

His branch experiences a withdrawal of Tk 60 lakh-Tk 70 lakh on a normal day.

"The banking system has adequate liquidity, and there will be no fund crisis in the next six months," said Nurul Amin, managing director of NCC Bank.

The amount of excess liquidity with the banking system has been more than Tk 70,000 crore, according to Bangladesh Bank.

State-owned banks were the major lenders in the call money market yesterday. Sonali Bank lentTk 1,225 crore and Rupali BankTk 1,090 crore at 8.25 percent.

READ MORE ON B3

Mercantile, Mutual Trust and Southeast banks were the top borrowers. Mercantile borrowedTk 625 crore at 8.25 percent followed by Mutual Trust's Tk 400 crore.

Most of the deals were settled at 8.25 percent yesterday. However, the rate for non-bank financial institutions, which depend on banks for their funds, was 9.25 percent, according to the BB.