HSBC buys at least US$3 billion of India bonds after deposit boost
Businesstimes News·
- HSBC Holdings has purchased at least US$3 billion of Indian government bonds since July using funds garnered under a special diaspora dollar deposit programme.
- The lender focused on the 5-year maturity bracket after mobilizing over US$10 billion through the Reserve Bank of India’s foreign currency non-resident scheme.
- This foreign capital influx has anchored domestic borrowing costs, reduced 5-year yields by 31 basis points, and supported the rupee against external pressures.
