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India cbank says banks borrowed 270.29 bln rupees via MSF on Oct 25

Source : REUTERS
Last Updated: Mon, Oct 28, 2013 03:50 hrs

MUMBAI, Oct 28 (Reuters) - Indian banks borrowed 270.29 billion rupees ($4.4 billion) from the Reserve Bank of India's marginal standing facility (MSF) window on Oct. 25, higher than the 254.20 billion rupees on Oct. 24.

The RBI cut the MSF rate by 50 basis points (bps) on Oct. 7 to 9 percent. It had raised the rate by 200 bps to 10.25 percent in mid-July.

Banks usually tap the MSF rate during acute cash tightness.

($1=61.4 rupees) (Reporting by Neha Dasgupta; Editing by Subhranshu Sahu)




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