Banks borrowed 11.95 bn Indian rupees via MSF on Jan 3: RBI

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Banks usually tap the MSF rate during acute cash tightness. (AP) Banks usually tap the MSF rate during acute cash tightness. (AP)
SummaryBanks usually tap the MSF rate during acute cash tightness.

Indian banks borrowed 11.95 billion rupees ($192.1 million) from the central bank's marginal standing facility (MSF) window on Jan. 3, higher than the 3.85 billion rupees borrowed on Jan. 2.

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.

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