Offshore India derivative bets face heat from global i-banks

Mumbai: Holders of offshore derivative instruments (ODIs) used to bet on Indian stocks are facing heat from losses incurred by global investment banks in the Archegos Capital blowup. The banks are asking hedge funds with exposure to local markets through these derivatives to bolster margins for positions, said three people with direct knowledge of the matter. This means the hedge fund needs to provide additional security in the form of cash or