ICICI Bank taps RBI swap for $1.45bn 4-year offshore loan

Business Aug 14, 2026

ICICI Bank just launched a $1.45 billion offshore loan, teaming up with global banks like Mizuho and Mashreqbank.

This move taps into the Reserve Bank of India's special swap facility, making it easier (and cheaper) for Indian banks to borrow dollars from abroad.

The four-year deal has competitive rates, and more lenders might still join in.

Indian banks raise $2.58bn overseas

Thanks to the Reserve Bank of India's swap facility launched on June 8, 2026, Indian banks have been raising billions overseas: $2.58 billion in just two months!

ICICI Bank is also eyeing another $500 million bond before the scheme wraps up at the end of December.

All this helps them manage costs smartly and bring more foreign money into India's banking system.