July - Indian market opens up

More than $250 million of deals were transacted on the launch date (July 7), said local market participants, with global banks winning most of the new business.

Standard Chartered transacted deals worth $90 million, including the first, a six-month $30 million deal with Mumbai-based oil, gas and petrochemicals firm Reliance Industries.

ABN Amro, another large global bank in the market, dealt options worth about 20% of the total ($50 million). Citigroup dealt over $40 million in rupee/foreign