Indian banks borrowed 139.77 billion rupees ($2.27 billion) from the central bank's marginal standing facility (MSF) window on Jan. 13 for 2 days, sharply higher than the 50.45 billion rupees borrowed on Jan. 10 for three days.
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 = 61.5750 Indian rupees)