Bankers cited in the report said some lenders were considering additional short-term funding to meet those commitments. The change in the Reserve Bank of India’s deadline has brought the timing of this borrowing into focus, with banks potentially having to accept a higher rate.

The proposed borrowing would be an interim funding arrangement rather than the final source of money. Banks would subsequently need to replace it through a longer-term loan or a bond. That means the funding exercise would involve both raising money now and arranging its replacement later.

The immediate issue described in the report is how lenders will finance the leverage they have promised FCNR(B) clients. It does not state that customers’ agreed terms have changed. Nor does it identify the banks considering this route, the amounts they might borrow or the rates they could pay.

The revised swap-support deadline and the schedule for replacing the short-term borrowing have not been stated in the supplied report. The plans therefore remain limited in detail: some lenders are considering the route, but completed borrowing transactions have not been reported.