 "external commercial borrowing, ECB, dollar")
After surging past $11 billion in March 2025, the proposals by Indian firms to raise funds through external commercial borrowings (ECBs) dropped to $2.91 billion in April 2025, according to Reserve Bank of India (RBI) data.
Companies, including non-banking financial companies (NBFCs), had filed ECB intents worth $ 11.04 billion in March 2025.
Out of the intents filed in April 2025, the amount for those using the automatic route was $1.90 billion, and via the approval route, it was $ 1.01 billion, according to RBI data.
Among the prominent firms that filed intent in April 2025 with the RBI was Shriram Finance, through automatic route, for $830 million, for on-lending or sub-lending operations. The funds to be raised from the international financial market has a maturity of three years.
Amongst the other finance companies, was SMFG India Credit Company Ltd with an intent to raise around $ 208 million from foreign collaborator\equity holders having three-year maturity.
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 "European Central Bank, ECB")
 "Reserve Bank of India, RBI")
 "Jos Buttler")
 "Rajkiran Rai, Chairman, National Bank for Financing Infrastructure and Development (NaBFID)")
 "The central government's borrowing is expected to remain in line with the budgeted amount, with slight adjustments in the distribution across tenures, according to bond market participants. Earlier, there were expectations of a reduction in the suppl")
Indian Renewable Energy Development Agency Ltd, state-owned entity in the business of financial services, filed for raising about $ 180 million. InterglobeAviation Ltd, Air transport operator, filed ECB intent for $ 106 million to import capital goods.
The funding from the leasing company has a maturity of 145 months, RBI data showed.
Intas Pharmaceuticals Ltd, manufacturer of pharmaceuticals, medicinal chemical and botanical products, filed for ECB intent worth $ 151 million. The funding from commercial banks has a maturity of 60 months.
The total ECB filing in the financial year 2025 (FY25) was $61.18 billion, up from $48.81 billion in FY24 and $25.98 billion in FY23, showed data sourced by the Business Standard Research Bureau from RBI and Bloomberg.
The net ECB inflows were $25.1 billion in FY25, nearly three times the level recorded a year ago.
Over 42 per cent of the total ECBs raised during FY25 were intended to be used for capital expenditure (capex), including on-lending and sub-lending for capex, according to the ‘State of Economy’ report in RBI’s bulletin (May 2025).
 "rare earth magnets, equipment manufacturers, Electric Vehicles, Metals & minerals, Automobile")
 "RBI, Reserve Bank of India")
 "inflation, retail inflation, food insecurity")
 "Heatwave in India, IMD, weather")
 "vegetable, Vegetables")
