MUMBAI: Indian banks borrowed 1.17 trillion rupees ($18.72 billion) from the Reserve Bank of India's marginal standing facility (MSF) window on Sept. 13, soaring above the 725.08 billion rupees on Sept. 12.
Banks tapped the emergency funds window due to acute liquidity tightness after the corporate advance tax outflows over the weekend.
The Indian central bank also offered a special two-day funding window through the MSF on Saturday.
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 in July.
Banks usually tap the MSF rate during acute cash tightness.
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