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Indian banks borrowed 11.95 bln rupees via MSF on Jan 3 - RBI

Source : REUTERS
Last Updated: Mon, Jan 06, 2014 05:26 hrs
A cashier counts currency notes as customers wait inside a bank in Hyderabad

Indian banks borrowed 11.95 billion rupees ($192.1 million) from the central bank's marginal standing facility (MSF) window on Jan. 3, higher than the 3.85 billion rupees borrowed on Jan. 2.

The Reserve Bank of India cut the MSF rate by 25 basis points (bps) to 8.75 percent on Oct. 29. 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 = 62.2075 Indian rupees)


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