Indian banks borrow 17 bln rupees via cbank's MSF on Dec 31

Source : REUTERS
Last Updated: Tue, Jan 01, 2013 03:50 hrs

MUMBAI, Jan 1 (Reuters) - Indian banks borrowed 17 billion rupees ($310 million) through the central bank's marginal standing facility (MSF) on Dec. 31, the first time since Oct. 25.

Banks can borrow from the MSF at 100 basis points higher than the Reserve Bank of India's key lending rate of 8 percent. Usually, banks tap this window during acute cash shortage. ($1=54.8 rupees) (Reporting by Suvashree Dey Choudhury; Editing by Prateek Chatterjee)

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