Indian banks borrowed 9.26bn rupees under MSF
Mumbai: Indian banks borrowed 9.26 billion Indian rupees ($148.73 million) from the central bank’s marginal standing facility (MSF) window on Dec. 2 for one day, sharply lower than the 86.50 billion rupees borrowed on Nov. 29 for three days.
The Reserve Bank of India cut the MSF rate by 25 basis points (bps) on Oct. 29 to 8.75 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.