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Indian banks borrowed 559 bln rupees via MSF on Aug 23 - cbank

Source : REUTERS
Last Updated: Mon, Aug 26, 2013 04:14 hrs
A cashier counts currency notes as customers wait inside a bank in Hyderabad

Indian banks borrowed 559 billion rupees ($8.8 billion) from the Reserve Bank of India's marginal standing facility (MSF) window on Aug. 23 for three-days, lower than the 582.85 billion rupees on Aug. 22.

The RBI had raised the MSF rate by 200 basis points to 10.25 percent and also imposed restrictions on daily borrowings by banks under its repo window last month.

Banks usually tap the MSF rate during acute cash tightness.

($1 = 63.7 rupees)

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