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India Inc foreign borrowings down 34% to $ 1.99 bn in Nov: RBI data

In November this year, no money was borrowed by issuing RDBs, also known as masala bonds

Press Trust of India  |  Mumbai 

RBI, RESERVE BANK OF INDIA, CENTRAL BANK

India Inc's foreign borrowings fell to $1.99 billion in November, down by 34.3 per cent from the year-ago period, data from the showed Thursday.

Indian firms had borrowed over  $3.09 billion in November 2017, which also included
$ 18.5 million through rupee-denominated bonds (RDBs).

In November this year, no money was borrowed by issuing RDBs, also known as masala bonds.

During the month, financial services provider REC Ltd was the only company to raise $ 700 million through the approval route of the (ECB).

Among major borrowers that tapped the automatic route of ECB included Power Finance Corporation raising $ 500 million, Bharat Petroleum Coporation Ltd ($300 million), India Pvt Ltd ($200 million) and Hengtong Optic-Electric India ($45 million).

First Published: Thu, December 27 2018. 19:55 IST
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