Business & Finance

Indian banks borrowed 274.25bn rupees under MSF on Dec 24

Published December 26, 2013 Updated December 26, 2013 05:20am

1 min

By Parvez Jabri

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MUMBAI: Indian banks borrowed 274.25 billion rupees from the central bank's marginal standing facility (MSF) window on Dec. 24 for two days, lower than the 316.30 billion rupees borrowed on Dec. 23 for one day.

The Reserve Bank of India cut the MSF rate by 25 basis points (bps) to 8.75 percent on Oct. 29. 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.

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