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Indian banks borrowed 538.47 bln rupees via MSF on Aug 26 - cbank
August 27, 2013 / 3:37 AM / 4 years ago

Indian banks borrowed 538.47 bln rupees via MSF on Aug 26 - cbank

MUMBAI, Aug 27 (Reuters) - Indian banks borrowed 538.47 billion rupees ($8.3 billion) from the Reserve Bank of India’s marginal standing facility (MSF) window on Aug. 26, lower than the 559 billion rupees on Aug. 23.

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 last month.

Banks usually tap the MSF rate during acute cash tightness.

$1 = 65.2 rupees Reporting by Suvashree Dey Choudhury; Editing by Anand Basu

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