India Firms Leaning More on Japan Banks Amid Funding Freeze
- India Inc. raised a record 181 billion yen of loans in 2020
- U.S. dollar funding scarce amid financial market turmoil
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In these times of crisis, India’s top companies are leaning on Japanese lenders for funding.
From Mukesh Ambani’s Reliance Industries Ltd. to Tata Capital Financial Services Ltd., the nation’s biggest firms have raised a record 181 billion yen ($1.7 billion) from yen-denominated loans this year, helping them to tide over a crunch in the dollar market.