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CORRECTED-Indian banks borrowed 22 bln rupees via MSF on Aug 2
August 5, 2013 / 3:42 AM / 4 years ago

CORRECTED-Indian banks borrowed 22 bln rupees via MSF on Aug 2

(Corrects paragraph 1 to say borrowings on Aug 2 were higher, not lower, than previous day)

MUMBAI, Aug 5 (Reuters) - Indian banks borrowed 22 billion rupees ($360 million) from the Reserve Bank of India’s marginal standing facility (MSF) window on Aug. 2, higher than the 12 billion rupees it borrowed on Aug. 1.

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.

Banks usually tap the MSF rate during acute cash tightness. ($1 = 61.05 rupees) (Reporting by Suvashree Dey Choudhury; Editing by Supriya Kurane)

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