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Market Chatter: HSBC Invests at Least $3 Billion in Indian Government Bonds

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HSBC Holdings has invested at least $3 billion since July in Indian government bonds with maturities of around five years, using funds raised through India's foreign-currency deposit program, Bloomberg reported Tuesday, citing people familiar with the matter.

The lender had mobilized $6.3 billion under the Reserve Bank of India's FCNR(B) program as of July 30, making it the largest global lender in terms of funds raised, the report said, citing the latest available data.

HSBC's total deposits under the program have since exceeded $10 billion, according to the report.

HSBC did not immediately respond to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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