MUMBAI: Banks borrowed Rs 311 billion ($5.1 billion) from the Reserve Bank of India's (RBI) marginal standing facility (MSF) window on Oct. 14, lower than the Rs 429.30 billion on Oct. 11.
The RBI cut the MSF rate by another 50 basis points (bps) on Oct. 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.
($1=61.4 rupees)
