Corporates file $3.48 billion ECB intent in July, shows RBI data

Indian companies, including NBFCs, filed intent for $3.48 bn in ECBs in July 2025, with $3.22 bn via the automatic route and $100 mn via the approval route, RBI data showed

In July 2025, Indian companies, including non-banking financial companies (NBFCs), filed proposals with the Reserve Bank of India (RBI) to raise $3.32 billion through External Commercial Borrowings (ECBs). Of this, $3.22 billion was through the automatic route and $100 million through the approval route, according to RBI data.

 

Among the prominent firms filing intent in July was Credila Financial Services Ltd, seeking $650 million for on-lending or sub-lending, to be raised from a commercial bank. Reliance Power Ltd also filed for a $500 million facility for working capital and general corporate purposes.