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Business & Finance

Indian banks borrow $409.45mn via MSF on December 21

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By Imad Uddin
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MUMBAI: Indian banks borrowed 21.5 billion rupees ($409.45 million) on Wednesday, higher than 16 billion rupees a day earlier, through the central bank's marginal standing facility, the Reserve Bank of India said on Thursday, a reflection of liquidity strain in the banking system.

The deficit in the banking system stood at 1.65 trillion rupees on Wednesday, far above the Reserve Bank of India's comfort level of about 600 billion rupees.

Copyright Reuters, 2011

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