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Indian banks borrow 6 bln rupees via RBI's MSF on Friday
July 2, 2012 / 7:36 AM / 5 years ago

Indian banks borrow 6 bln rupees via RBI's MSF on Friday

MUMBAI, July 2 (Reuters) - Indian banks borrowed 6 billion rupees ($107.5 million) from the Reserve Bank of India’s marginal standing facility (MSF) on June 29 for four days as the central bank was closed for public transaction for its account closing on Monday.

The outstanding under MSF stood at 6 billion rupees as on June 30 as well.

Banks can borrow from the MSF at 100 basis points higher than the RBI’s key lending rate of 8 percent. ($1 = 55.8 rupees) (Reporting by Suvashree Dey Choudhury; Editing by Gopakumar Warrier)

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