Indian Inc’s foreign borrowings halved to $1.64bn in Aug

Vastavam web: Indian Inc’s foreign borrowings nearly halved to USD 1.64 billion in August this year, data from Reserve Bank showed today.It includes borrowings through external commercial borrowings (ECBs) and rupee denominated bonds (RDBs) which were halted briefly recently.Of the total borrowings, more than USD 1.56 billion were in the form of external commercial borrowings.
In a break-up, USD 1.54 billion were borrowed through automatic route and USD 23,635,295 million through approval route of ECBs.Rest of USD 78,163,593 million foreign borrowings during the month were through rupee denominated bonds, showed the data.Fullerton India Credit Co Ltd was the only company that used the RDB route to raise the fund.