Agency reports say that banks borrowed Rs 185.02 billion ($3.01 billion) from the Reserve Bank of India's marginal standing facility (MSF) window on October 28, lower than the Rs 270.29 billion on October 25.
The RBI cut the MSF rate by 50 basis points (bps) on October 7 to 9 per cent. The apex bank 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.