MUMBAI: Banks are accelerating foreign-currency bond and external commercial borrowing after RBI closed its FCNR(B) deposit swap facility a month ahead of schedule, while its June 6 facility for ECBs and other offshore foreign-currency borrowings remains open until the end of Sept. IDFC First Bank is the latest lender to conclude a bond offering, raising $500 million through its maiden issue of a three-year bond at a 5.63% coupon.

MUMBAI: Banks are accelerating foreign-currency bond and external commercial borrowing after RBI closed its FCNR(B) deposit swap facility a month ahead of schedule, while its June…

India's bank funding costs rise as RBI unexpectedly closes a special dollar deposit window for overseas residents, impacting lending rates.