The terms Marginal Standing Facility (MSF) rate and Net Demand and Time Liabilities (NDTL) are used in relation to banking operations.

The Marginal Standing Facility is a window for banks to borrow from the Reserve Bank of India (RBI) in an emergency situation when interbank liquidity dries up completely. The MSF rate is the interest rate at which banks can borrow from the RBI under the MSF window. This rate is typically higher than the repo rate, which is the rate at which banks borrow from the RBI for their daily liquidity needs.

Net Demand and Time Liabilities is a measure used by the RBI to calculate the amount of funds that banks need to maintain with it at any given time. It includes the demand deposits, time deposits, borrowings and other liabilities of banks. The NDTL is used as a basis to calculate the Cash Reserve Ratio (CRR) and the Statutory Liquidity Ratio (SLR), which are tools used by the RBI to regulate the money supply in the economy.