Reduction in marginal standing facility rate
Posted on: 08/Oct/2013 4:57:34 PM
The marginal standing facility rate at which all banks borrow from Reserve bank of India is reduced from 9.5% to 9%.
This is done in order to improve the liquidity of the system. Speaking to one of the central bank’s official, he stated that this decision was made further to the review made on the liquidity conditions.
It is to be noted that this rate was already reduced from 10.25% to 9.25% previously.
