India to ask state run oil cos to raise funds through external borrowings

NEW DELHI (Reuters) - India will ask state-run oil producers to raise more funds through external commercial borrowings, Finance Minister P. Chidambaram said on Monday, as the government tried to sooth investor nerves about a sharp fall in the value of the rupee.

(Reporting by Manoj Kumar and Rajesh Kumar Singh; Editing by Anand Basu)