RBI on 7 October had said it would conduct seven to 14 days repo lending. Photo: Mint
Live Mint :Anuproy:Fri, Oct 11 2013. 11 12 PM IST
Mumbai: Banks borrowed Rs.19,000 crore from the Reserve Bank of India (RBI) at a cut-off rate of 8.80%, lower than the emergency liquidity window, known as marginal standing facility, rate of 9%, at the central bank’s first seven-day repo transaction on Friday.
RBI on 7 October had said it would conduct seven to 14 days repo lending. Friday’s auctions results published on the central bank’s website showed banks offered to borrow money at interest rates ranging between 7.60% and 8.96%.
