A sharp surge in India's banking system liquidity will not be a long-term phenomenon, with most of the funds likely to be used up by the end of the financial year through various means, the central bank chief said on Wednesday. The liquidity surplus in India's banking system has averaged 7.3 trillion rupees ($75.49 billion), or nearly 2.7% of deposits since the start of September, generated mainly by $144 billion of dollar inflows as one-off schemes drew to a close.