Mikel Arteta feels Arsenal have the financial strength to be able to challenge for the Premier League title next season.
Former Newcastle striker Michael Chopra is keen to return to the Indian Super League, which will kick off on October 3.
The Sky Bet Championship club, whose manager Brian McDermott worked with the Mali international at Reading, have the option of a permanent deal in the summer.
McDermott actually scouted Kebe at Reading and later worked with him as a manager, winning promotion to the Premier League in 2012.
"Jimmy is a player that I scouted from France in 2006. He has fantastic pace, he is a real team player, and he made and scored goals for us in the Championship and the Premier League. I'm delighted he's come on board and I'm really looking forward to working with him again," McDermott said.
Kebe joined Palace in the summer but has failed to make an impact and has been restricted to six appearances this season.