Currency Masala Bonds: How a volatile rupee is dampening their spice Updated : January 14, 2020 08:01 PM IST The emergence of Masala Bonds as a funding vehicle for Indian entities had been cited as seminal moment for the economy. The overall adoption of Masala Bonds as a capital raising mechanism for Indian entities remains low. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.