India Inc’s foreign borrowings more than double to USD 4.98 bn in July: RBI
PTI, Sep 2, 2019, 4:09 PM IST
New Delhi: India Inc’s foreign borrowings grew over two-fold to USD 4.98 billion in July over the same month a year ago, according to Reserve Bank data. Indian firms had raised USD 2.18 billion in borrowings from overseas markets in July 2018.
In the ECB category, the major borrowers tapping the automatic route were Adani Ports And Special Economic Zone Ltd — which raised USD 750 million for rupee expenditure and USD 650 million for refinancing of earlier ECB, ONGC Videsh USD 500 million for other purposes.
Larsen & Toubro and HPCL-Mittal Energy raised USD 150 million and USD 125 million, respectively for rupee expenditure.
Among others, Aditya Birla Housing Finance; L&T Finance; GACL-NALCO Alkalies & Chemicals and India Infoline Finance raised USD 100 each for on-lending purposes.
In the approval route of ECB, Reliance Industries raised a total of USD 912.87 million in three different tranches to meet rupee expenditure and import of capital goods while REC Limited raised USD 650 million for on-lending.
Toyota Financial Services India was the only company that raised USD 50.86 million by issuing masala or rupee denominated bonds in the overseas market for the purpose of sub-lending.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Indian markets trade firm on global rally, fresh foreign fund inflows
Manufacturing licence of 10 Patanjali’s Divya Pharmacy products suspended
Stock market today: Asian shares mostly rise to start a week full of earnings, Fed meeting
Samsung reports a 10-fold increase in profit as AI drives rebound in memory chip markets
China lifts restrictions, gives all clear nod for Tesla cars as Musk lobbies hard in surprise visit to Beijing
MUST WATCH
Latest Additions
7 Naxalites killed in encounter with security personnel in Chhattisgarh
Patanjali Foods gets show cause notice for GST dues
Life can never be same without you: Neetu Kapoor on Rishi Kapoor’s 4th death anniversary
BJP debunks Congress’s claims of altering constitution, abolishing reservations: Shah
This IPL is different, need to mentally accept challenge: KKR’s Varun Chakravarthy