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Banks borrow Rs 598.08 billion from RBI under MSF

Banks borrowed Rs 598.08 billion from the Reserve Bank of India's marginal standing facility (MSF) window on Sept. 23, below the Rs 756.78 billion on Sept. 20 for three days.

RBI lowered the MSF rate by 75 basis points on Friday to 9.50 per cent. It had raised this rate by 200 bps to 10.25 per cent in mid-July. Banks usually tap the MSF rate during acute cash tightness.