Indian firms raised triple foreign borrowings in April


Mumbai, May 27: According to Reserve Bank of India (RBI) data, Indian firms’ external commercial borrowings (ECBs) in April went high more than three-fold to $1.30 billion as compare to $304.57 million in the same month of 2016.

The borrowings in April, 2017 by Indian companies included $1.27 billion through the automatic route, $39.26 million via the approval route and additional borrowing of $394.53 million through rupee denominated bonds (RDBs).

In the category of automatic route, JSW Steel took a loan of $500 million while HPCL-Mittal Energy raised $372 million and Essar Shipping was the only company, which raised $39.26 million under approval route.

Wefornews Bureau

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