23 DUE TO BANKS
The borrowings from the Central Bank are secured by the Bank’s cash balances held with the Central Bank.
For the year under review, the borrowings from Central Bank of MUR 6.4m are secured and long-term with tenor of 360 days attracting interest rate of 0.68%.
The borrowings from the Central Bank of MUR 29.8m for 2019 and MUR 72.4m for 2018 are unsecured and long-term with tenor days ranging from 207 to 722 for 2019 and 573 to 1,088 days for 2018 attracting interest rate of 0.63% for 2019 and 0.68% for 2018.
The borrowings from the other banks of MUR 860.2m were from other local banks. Those borrowings are unsecured and short-term with minimum tenor days of 3 to 7 days along with interest rate ranging from 3.4% to 3.6% for the year ended 2018.