India's stressed, debt-laden banks getting cheap overseas loans now

Strengthening sentiment has increased access to the offshore loan markets for investment-grade domestic lenders

Indian banks are getting syndicated loans at razor-thin interest rates from international lenders amid signs the country is moving towards cleaning up $210 billion of non-performing assets.

Axis Bank Ltd., IndusInd Bank Ltd., State Bank of India and Yes Bank Ltd. are among those reaping the benefits of cheaper funds as confidence in the world’s fastest-growing major economy increases. Indian banks have raised 77 per cent more in foreign-currency loans this year than in the same period of 2017, even as such lending overall to all Indian borrowers slumped, according to data compiled by Bloomberg.
 

Indian banks will have cleaner balance