India Inc foreign borrowing down 45% at $2.42 billion in January

Mumbai: India Inc’s external commercial borrowings (ECBs) fell by 45% to $2.42 billion in January 2019 as compared to the year-ago period, data from the Reserve Bank of India (RBI) has showed.

Domestic firms had raised $5.40 billion from overseas sources during January 2018. Of the total borrowings during the month, $2.27 billion was raised through the automatic route of external commercial borrowings (ECBs). The remaining $150 million was taken through the approval route, according to RBI data on ECB for January 2019.

No money was raised through rupee denominated bonds (RDBs) during the month, both in 2019 and 2018, RBI data showed.