Foreign banks bought $5.6 billion of India ABS in record year

India’s asset-backed securities market reached a record in the fiscal year ended March 2026 as foreign banks sharply increased purchases, giving them deeper exposure to the country’s fast-growing retail credit market. Overseas lenders bought roughly $5.6 billion of the debt, equal to about 35% of total issuance, up from 28% to 30% in each of the previous two years, Crisil Ratings said. Total asset-backed debt sales hit 1.53 trillion rupees. Barclays, Citigroup, JPMorgan Chase and Standard Chartered were among the lenders that increased investments. The market was also lifted by Reliance Group companies’ 210 billion rupee securitization in September 2025, one of India’s largest such deals.