Kotak Mahindra Bank taps HSBC and CTBC for $600-million overseas loan

Kotak Mahindra Bank plans a $600 million loan from HSBC and CTBC Bank. Bank of India also secured $600 million through a dual-tranche term loan. These foreign currency facilities aim to attract dollars into India. The funds will likely support overseas clients making FCNR (B) deposits. This move leverages a special swap facility from the Reserve Bank of India.