Mumbai: Indian banks borrowed 65.80 billion rupees ($1.05 billion) from the central bank’s marginal standing facility (MSF) window on Nov. 22, lower than the 78.35 billion rupees borrowed on Nov. 21.
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.
Source: Reuters
