India Inc's foreign borrowings stood at $488.49 mn in November
The Dollar Business Bureau Indian companies have raised $488.49 million through external commercial borrowings (ECBs) and rupee denominated bonds (RDBs) in November 2016, according to Reserve Bank of India data. India Inc had raised $3.16 billion from foreign sources in the corresponding month of last year. This significant decline was seen in terms of the number of companies too, as only 34 companies raised money through ECB last month as against 53 in November last year. The RBI said that the data, however, cannot be compared as borrowings through RDBs were included only this year. The banking body has allowed Indian companies to tap foreign sources and has started to issue RDBs from this year. It has started to publish ...
Indias external debt increased by 6.6% in last fiscal
The Dollar Business Bureau India’s external debt has gone up to $475.8 billion during the last financial year, an increase of 6.6% (29.5 billion) over $446.3 billion since the previous year. The rise was a result of increased commercial borrowings and NRI deposits. According to the Status Report 2014-15 on external debt released by the Ministry of Finance, India’s long-term borrowing from overseas grew at 10.3% to $391.1 billion during 2014-15. The long-term external debt contributed 82.2% of the total foreign debt in FY2015, compared to 79.5% in FY2014. “India’s external debt has remained within manageable limits as indicated by the external debt-GDP ratio of 23.8% during 2014-15. External debt of the country continues to be dominated by the long-term borrowings,” said ...
