India Inc's overseas borrowing rise by 24% in March 2021

by Nidhi Bhati

India Inc’s external commercial borrowings grew by over 24 per cent to USD 9.2 billion in March 2021, as per Reserve Bank of India (RBI) data. Indian firms had raised USD 7.4 billion from the foreign market in the same period a year ago. Of the total borrowings during March 2021, USD 5.4 billion came in through the approval route of the external commercial borrowings (ECB), while the rest of USD 3.9 billion was raked in via the automatic route of raising funds from international markets. No money was raised through the rupee denominated bonds (RDB) or the masala bonds.