Managing Director Binod Kumar outlined the planned overseas borrowing for Indian Bank. The $400 million transaction is intended for this week, but the supplied report does not confirm that the money has been raised. The amount should therefore be read as a funding plan rather than a completed transaction.

The bank could seek another $600 million through external commercial borrowings before December 2026. That possible borrowing is separate from the immediate $400 million plan. The report does not give a more specific schedule for the additional amount or state that it has been finalised.

Alongside the borrowing plans, Indian Bank wants to attract $2 billion through FCNR(B) deposits and is seeing good demand. The report does not state how much has already been collected towards that target. It also does not provide the deposit rates or a deadline for reaching the targeted amount.

The report also notes that the Reserve Bank of India has closed its concessional swap facility. However, it gives no further details about the closure or explains how it affects Indian Bank’s proposed borrowing and deposit mobilisation.