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India Inc's foreign borrowings fall to $2.81 bn in Feb, down by 9%: RBI

The domestic firms had raised as much as $3.1 billion through the ECB route in the corresponding month of 2018

Press Trust of India  |  Mumbai 

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The entire fund mop-up during the month was done through the automatic route of ECB, showed the RBI data

India Inc's borrowings from foreign markets fell to $2.81 billion in February, down by 9 per cent as compared to the year-ago month, data from the showed Friday.

The domestic firms had raised as much as $3.1 billion through the (ECB) route in the corresponding month of 2018.

No firms tapped the rupee-denominated bonds route to borrow capital from foreign markets during February.

The entire fund mop-up during the month was done through the automatic route of ECB, showed the data.

Among the major borrowers were Ltd ($550 million for overseas investment), Indian Oil Corporation ($400 million as working capital loan), Shriram Transport Finance Company ($400 million for sub-lending) and Mahindra & Mahindra Financial Services ($USD 300 million for sub-lending).

Tata Capital Housing Finance raised $200 million for on-lending, HPCL Rajasthan Refinery $140.71 million for new project investment, and Barclays Global Services Centre Pvt Ltd $130.11 million for new project.

First Published: Fri, March 29 2019. 14:25 IST
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