The terms 'Marginal Standing Facility Rate' and 'Net Demand and Time Liabilities', sometimes appearing in news, are used in relation to

Both 'Marginal Standing Facility (MSF) Rate' and 'Net Demand and Time Liabilities (NDTL)' are fundamental terms used within the financial and banking sector, particularly in the context of central banking and commercial banking operations in India. **Marginal Standing Facility (MSF) Rate**: This is a penal rate at which scheduled commercial banks can borrow money from the Reserve Bank of India (RBI) overnight, against government securities, when there is an acute shortage of inter-bank liquidity. It serves as a last resort for banks. **Net Demand and Time Liabilities (NDTL)**: This refers to the total of demand and time deposits (liabilities) of a bank with the public and other banks, minus deposits of other banks with it. NDTL is a crucial figure used by the RBI to calculate key statutory requirements for banks, such as the Cash Reserve Ratio (CRR) and the Statutory Liquidity Ratio (SLR), which directly impact a bank's lending capacity. Given their direct relevance to how banks operate, borrow, and are regulated, these terms are exclusively associated with banking operations.