MUMBAI, Oct 7 (Reuters) - Indian banks borrowed 387.18 billion rupees from the Reserve Bank of India’s marginal standing facility (MSF) window on Oct.4 for three days, higher than the 321.03 billion rupees on Oct. 3 for one-day.
The RBI lowered the MSF rate by 75 basis points (bps) on Sept. 20 to 9.50 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. (Reporting by Suvashree Dey Choudhury and Archana Narayanan; Editing by Prateek Chatterjee)