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Indian banks borrowed 265 bln rupees via MSF on July 30 - RBI

Source : REUTERS
Last Updated: Wed, Jul 31, 2013 03:47 hrs
The Reserve Bank of India logo is pictured outside its head office in Mumbai

Indian banks borrowed 265 billion rupees ($4.35 billion) from the Reserve Bank of India's marginal standing facility window on July 30, the highest amount since the central bank tightened cash conditions and raised short-term rates two weeks ago to support the rupee.

The RBI had raised the marginal standing facility (MSF) rate by 200 basis points to 10.25 percent and also imposed restrictions on daily borrowings by banks under its repo window.

Banks usually tap the MSF rate during acute cash tightness.

For a factbox on measures taken to support the rupee, see:

($1=60.9 rupees)




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