Banks borrowed Rs. 404.5 bln from RBI | business | Hindustan Times
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Banks borrowed Rs. 404.5 bln from RBI

Indian banks borrowed Rs. 404.50 billion ($6.69 billion) from the Reserve Bank of India's marginal standing facility (MSF) window on August 8, sharply higher than Rs. 239.30 billion on August 7.

business Updated: Aug 12, 2013 09:17 IST

Indian banks borrowed Rs. 404.50 billion ($6.69 billion) from the Reserve Bank of India's marginal standing facility (MSF) window on August 8, sharply higher than Rs. 239.30 billion on August 7.

The RBI had raised the MSF rate by 200 basis points to 10.25% 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.