home

Indian banks borrow 70 bn rupees as on April 1

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.