RBI chokes India’s offshore loan mart to weaken rupee

India’s central bank announced a series of capital controls on Tuesday that look set to complicate foreign currency lending in the country and have left many Asian loan bankers concerned about future Indian deal flow.

  • 10 Aug 2007

The Reserve Bank of India announced on Tuesday that any company wishing to borrow more than $20m offshore in one year would be unable to repatriate the funds back to India. Previously the RBI had set a limit of $500m a year.

Borrowings over $20m must be kept ...

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1 Bank of America Merrill Lynch (BAML) 7,026 25 11.95
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3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

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1 Citi 118,624.20 342 12.98%
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