Saikat Das

HSBC has mobilised about $5.5 billion in non-resident Indian deposits by offering highly leveraged loans under the RBI's FCNR(B) window, outpacing global rivals.

Standard Chartered Plc. has seen several senior executive departures from its Indian operations as the lender reorganizes its wealth business and shifts away from mass-market retail banking.

DBS Group Holdings Ltd. has hired Nitin Chengappa, a former Standard Chartered Plc banker, to head its wealth management business in India as it bets on rising demand for tailored products from the country’s newly rich.

A surge in dollar demand from Indian lenders racing to boost the leverage on foreign currency deposits they are offering to overseas citizens is firing up its dollar bond and loan markets, with global banks rushing to capture the business, according to people familiar with the matter.

A unit of India’s Vedanta Group is raising about 135 billion rupees ($1.4 billion) from at least three banks, the first large local-currency loan since the conglomerate controlled by billionaire Anil Agarwal was split into separate firms, according to people familiar with the matter.

Gabriel India Ltd., an Indian auto parts manufacturer, is in discussions with foreign banks for a local-currency bond that will fund a planned acquisition, according to people familiar with the matter.

India’s private lenders, including the largest, HDFC Bank Ltd., are planning to raise up to $3 billion through dollar bonds or loans, according to people familiar with the matter, tapping a central bank facility which reduces the hedging costs for overseas borrowings.

Indian conglomerate Adani Group has secured a loan of about $800 million from a group of overseas lenders to help fund its push into data centers, according to people familiar with the matter.

Standard Chartered Plc expects rebalancing of its global headcount due to the adoption of artificial intelligence but sees hiring growing in markets such as India, home to its largest global capability centers.

India’s ICICI Bank Ltd. has launched a syndicated offshore loan of about $1.45 billion, according to people familiar with the matter, joining a growing number of local banks tapping overseas debt to capitalize on a central bank facility that lowers hedging costs.