RBI move spurs rush for dollar loans by Indian banks, but only high payers will be winners

Indian banks are limbering up for a rapid dash into the offshore dollar loan market over the next two months, in a bid to capitalise on the central bank relaxing restrictions on borrowings. But with the international market already crowded by a string of deals from the country’s state-owned corporates, new issuers should not hold out for a stellar response — and should be prepared to pay up to get their deals across the finish line, writes Rashmi Kumar.