Banks borrowed Rs 31,506 crore via MSF on October 23: RBI

MUMBAI: Banks borrowed Rs 31,506 crore ($5.1 billion) from the Reserve Bank of India's marginal standing facility (MSF) window on October 23, lower than the Rs 33,829 crore on October 22. 

The RBI cut the MSF rate by 50 basis points (bps) on October 7 to 9 per cent. It had raised the rate by 200 bps to 10.25 per cent in mid-July. 

Banks usually tap the MSF rate during acute cash tightness.