Indian banks have accelerated overseas fundraising after RBI brought forward the closure of a foreign-exchange swap facility to August 31 from the end of September.
ICICI Bank said on Friday its board approved doubling the limit for overseas borrowings to $5 billion, as the country's second-largest private lender ramps up fundraising in international markets.Indian banks have accelerated overseas fundraising after the Reserve Bank of India brought forward the closure of a foreign-exchange swap facility to August 31 from the end of September.Private and state-run lenders were on track to raise at least $5 billion through dollar bonds and loans, bankers told Reuters earlier this week.ICICI Bank has already raised $2.05 billion through dollar debt in the past month, the most among Indian banks since the RBI announced the swap window in early June.Earlier this week, ICICI Bank raised $750 million through five-year dollar bonds, its third dollar fundraising in a month, two merchant bankers told Reuters on Tuesday.Published on August 21, 2026
