You are here: Home » Companies » News
Business Standard

Indian firms' foreign borrowings dip 45% to $2.09 bn in Dec 2019: RBI data

Cholamandalam Investment and Finance Company was the only company to have floated masala bonds overseas

Press Trust of India  |  Mumbai 

borrowings
Photo: Shutterstock

of fell over 45 per cent to $2.09 billion in December 2019 as compared to the year-ago period, according to the Reserve Bank data.

had raised $3.81 billion in December 2018, which included $37 million through issuance of

Of the total money borrowed by domestic during December 2019, $1.2 billion was through the automatic route of external commercial borrowing (ECB) and $840 million via approval route of ECB. The remaining $55.98 million was raised through the rupee denominated bonds or popularly known as

The borrowers taking the automatic route of ECB included HPCL-Mittal Pipelines ($262.5 million), HDFC Credila Financial Services ($100 million), LIC Housing Finance ($200 million) and Toyota Financial Services India ($100 million), among others.

Those who borrowed through the approval route were REC Ltd ($500 million) and Power Finance Corporation ($250 million), besides others. Cholamandalam Investment and Finance Company was the only company to have floated overseas to raise up to $55.98 million for on-lending, as per RBI data.

First Published: Sun, February 09 2020. 12:26 IST
RECOMMENDED FOR YOU