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Indian banks borrowed Rs 5 crores ($844,400) through the central bank'smarginal standing facility (MSF) as on July 16, the central bank's data showed on Wednesday.
Earlier this week, the Reserve Bank of Indiahad raised the MSF rate, as part of the measures to address the rupee's weakness.
Banks can borrow from the MSF at 300 basis points higher than the Reserve Bank of India's policy repo rate of 7.25 per cent. Banks usually tap this window during acute cash shortage.
Earlier this week, the Reserve Bank of Indiahad raised the MSF rate, as part of the measures to address the rupee's weakness.
Banks can borrow from the MSF at 300 basis points higher than the Reserve Bank of India's policy repo rate of 7.25 per cent. Banks usually tap this window during acute cash shortage.