Business & Finance

Indian banks borrow 70bn rupees via central bank's MSF as on April 1

Published April 2, 2013 Updated April 2, 2013 05:14am

1 min

By Shoaib Ur Rehman

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MUMBAI: Indian banks borrowed 70 billion rupees ($1.29 billion) through the central bank's marginal standing facility (MSF) as on April 1, Reserve Bank of India data showed on Tuesday.

Banks can borrow from the MSF at 100 basis points higher than the Reserve Bank of India's key lending rate of 7.50 percent. Banks usually tap this window during acute cash shortage.

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