India cbank allows companies to borrow in rupees offshore from overseas lenders

May 21, 2015 12:26 PM

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The overseas lenders will have to enter into currency swap transactions with their overseas banks who in turn will provide rupees by tapping a bank in India for extending funds in rupees to the corporate.

Earlier, an Indian corporate offshore had no access to borrow in rupees from overseas market and had to first take a dollar loan and then convert the same into rupees which included undertaking the foreign currency risk.

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