umbai: Banks and non-banking financial companies (NBFCs), which rely heavily on short-term funds to lend, are likely to be hurt the most by the Reserve Bank of India’s (RBI) steps on Monday to boost rupee demand. The RBI put a 1% daily limit on borrowing on banks’ net demand and time liabilities, or about Rs 75,000 crore. It also raised the cost of borrowing by 200 basis points under its exceptional window, known as marginal standing facility or MSF.........
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