Reserve Bank of India says banks borrow $1.17bn on Dec 22

MUMBAI: Indian banks borrowed 61.5 billion rupees ($1.17 billion) through the central bank's marginal standing facility on Thursday, sharply more than the 21.5 billion rupees borrowed the previous day, the Reserve Bank of India said, in a reflection of liquidity strains in the banking system.

The deficit in the banking system stood at 1.652 trillion rupees on Thursday, far above the Reserve Bank of India's comfort level of about 600 billion rupees.