Notes To The Financial Statements

23. DUE TO BANKS

The borrowings from the Central Bank are secured by the Bank’s cash balances held with the Central Bank. For 2019, 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%.

Short term interbank borrowing from local bank at 30 June 2021 was MUR 1.00 bn with an interest rate of 0.45% per annum with a remaining tenor of 2 days.