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Foreign borrowings by Indian companies halve to $1.64 bn in Aug: RBI data

Fullerton India Credit Co Ltd was the only company that used the RDB route to raise the fund

Press Trust of India  |  Mumbai 

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Indian Inc's nearly halved to $1.64 billion in August this year, data from Reserve Bank showed today.

It includes borrowings through external commercial borrowings (ECBs) and rupee-denominated bonds (RDBs) which were halted briefly recently.


had borrowed $3.17 billion through ECBs in August 2016.

There were no RDBs in the same period last year as the instrument was introduced in September.

Of the total borrowings, more than $1.56 billion was in the form of external commercial borrowings.

In a break-up, $1.54 billion was borrowed through automatic route and $23,635,295 million through approval route of ECBs.

Rest of $78,163,593 million during the month were through rupee-denominated bonds, showed the data.

Fullerton India Credit Co Ltd was the only company that used the RDB route to raise the fund.

Among major borrowers using ECBs were $400 million for on-lending, $300 million for refinancing earlier ECB and Coated Products raising $150 million to finance a new product.

First Published: Thu, September 28 2017. 21:48 IST
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