HDFC, Kotak, Yes Bank Among Five Lenders Eyeing $3 Billion

Some banks in India want to borrow a very large amount of money from other countries — about three billion dollars.

When banks borrow in foreign money, they have to pay the money back in that same foreign money later.

This can be expensive and risky because exchange rates change.

A special bank in India, called the RBI, is helping make this borrowing cheaper and safer with something called a swap.

Big Indian banks like HDFC Bank, Kotak and Yes Bank are interested in this deal.

Some experts say this is a great opportunity for Indian banks.

Other experts say the RBI's plan is really about getting more dollars into India.

That helps keep India's own money, the rupee, strong.

The rupee has come under pressure because oil prices are high and the world feels uncertain.

When more dollars come into India, the country can pay for things like oil more easily.