Indian banks and companies are asking the Reserve Bank of India for help with offshore debt. High costs to protect against currency changes make borrowing abroad more expensive than at home. This is slowing down foreign fundraising. A new support system could lower these costs. This would help bring more foreign money into India and support its economy.

MUMBAI: Banks have made a host of suggestions on how govt could attract $30–$50bn foreign exchange, most of them involving the central bank subsidising the hedging cost of the…

Indian banks and companies are asking the Reserve Bank of India for help with offshore debt. High costs to protect against currency changes make borrowing abroad more expensive…