MSF borrowing by banks at Rs 5 crore as of July 16

Indian banks borrowed Rs 5 crore through the RBI's marginal standing facility (MSF) as on July 16, the central bank's data showed on Wednesday.

Earlier this week, the Reserve Bank of India had 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%.

Banks usually tap this window during acute cash shortage.