社債利回りの上昇に伴い、インド企業の間で銀行融資への切り替えが進んでいる。銀行の貸出金利は安定しており、融資の魅力が高まっているためだ。主要銀行におけるホールセール融資の伸びが、この変化を裏付けている。
インド企業は社債よりも銀行融資を選択する傾向を強めている。この変化は、社債利回りが急上昇する一方で銀行の貸出金利が安定している中で起きている。将来的な政策金利引き上げに対する市場の予想も、こうした決定に影響を与えている。
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Corporate borrowers in India are increasingly opting for bank loans instead of bond issuances. Rising capital market yields have eroded the cost advantage of bonds. Spreads between bank lending rates and bond yields have compressed significantly, especially for higher-rated entities.
Overseas investors have invested a record ₹39,640 crore in Indian government bonds during June so far. The inflows follow tax exemptions and expanded access to sovereign debt. These steps are intended to increase foreign participation in the market.
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Foreign portfolio investors have injected nearly ₹10,000 crore into Indian bonds over four trading sessions. The inflows reversed recent outflows from the debt market.
Indian banks achieved a record consolidated net profit exceeding ₹4 lakh crore in FY26. Top lenders including State Bank of India, HDFC Bank, and ICICI Bank contributed more than half of the total.
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State Bank of India plans to maintain net interest margins above 3 percent in the coming fiscal year through deposit repricing and faster growth in retail and MSME loans.
Several brokerages have identified 10 largecap stocks in India with significant upside potential despite rising oil prices from the US-Iran war. Crude oil has surpassed $125 per barrel, fueling inflation fears and market uncertainty. Stocks like HDFC Bank and Bharti Airtel top the lists from firms including Jefferies and Axis Direct.
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India is set to reapply for inclusion in major global bond indices after introducing tax exemptions for foreign investors. The country has also expanded its pool of long-dated securities to strengthen its appeal.