Foreign banks are queuing up to bankroll corporate India's mergers and acquisitions (M&A) war chest, after some American and European lenders backed off when the economic downturn lowered India Inc's appetite for overseas buys.
Standard Chartered, Citigroup and Deutsche Bank are the latest to offer cheap US dollar loans to Indian companies, trying to make the most of an existing opportunity before a potential pruning of the US Federal Reserve's asset buys increases their cost of funding.
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