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Top Indian banks battle for no 1 bond spot as credit demand surges

Indian businesses are hungry for credit, despite rising interest rates, as they borrow to cover higher operational costs and for more investments

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Photo: Bloomberg

2 min read Last Updated : Dec 23 2022 | 8:14 AM IST

Competition among India’s biggest local-currency bond arrangers has heated up to the most intense in 13 years, as credit growth stronger than in many other major economies spurs more rupee debt offerings.

Indian businesses are hungry for credit, despite rising interest rates, as they borrow to cover higher operational costs and for more investments. Corporate bond sales also got a boost this month from record issuance of riskier debt by banks to buffer their capital and allow more lending.

Axis Bank Ltd., which has been the No. 1 corporate bond manager for each of the last 15 years,

Topics : Axis Bank HDFC Bank Credit demand Indian business Indian Banks Interest Rates

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