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Banks borrow 50 million rupees via RBI's MSF as on July 16

Source : REUTERS
Last Updated: Wed, Jul 17, 2013 04:53 hrs
An employee arranges Indian currency notes at cash counter inside a bank in Agartala

Indian banks borrowed 50 million rupees through the RBI's marginal standing facility (MSF) as on July 16, the central bank's data showed on Wednesday.

Earlier this week, the Reserve Bank of India had raised the MSF rate, as part of the measures to address the rupee's weakness.

Banks can borrow from the MSF at 300 basis points higher than the Reserve Bank of India's policy repo rate of 7.25 percent. Banks usually tap this window during acute cash shortage.



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