India central bank says banks borrowed 315.06bn rupees via MSF on Oct 23

MUMBAI: Indian banks borrowed 315.06 billion rupees ($5.1 billion) from the Reserve Bank of India's marginal standing facility (MSF) window on Oct. 23, lower than the 338.29 billion rupees on Oct. 22.

The RBI cut the MSF rate by 50 basis points (bps) on Oct. 7 to 9 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.