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.

  • By Rashmi Kumar
  • 27 Sep 2013
Banks in India have come out in hordes to tap international lenders for dollar loans over the past couple of weeks. Axis Bank, HDFC Bank, IDBI Bank, Indian Overseas Bank and Union Bank of India are among the names doing the rounds as they attempt to shore up ...

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1 Bank of America Merrill Lynch (BAML) 1,284 2 30.09
2 Barclays 633 1 14.82
3 BNP Paribas 509 1 11.91
4 Citi 467 1 10.94
5 Morgan Stanley 455 1 10.66

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5 Wells Fargo Securities 6,258.35 24 8.26%