India Inc raised $3.73 b via ECB route in January
March 02, 2021
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India Inc raised $3.7316 billion via external commercial borrowings (ECBs) under the automatic route in January 2021, about 26 per cent higher than what was raised in the preceding month. In December 2020, Indian companies collectively mopped up $2.9671 billion through ECB route.
External Commercial Borrowings are commercial loans raised by eligible resident entities from recognised non-resident entities and should conform to parameters such as minimum maturity, permitted and non-permitted end-uses, and maximum all-in-cost ceiling.
The growth in borrowing via ECBs comes in the backdrop of non-food bank credit growth slowing to 5.7 per cent on year-on-year (y-o-y) basis in January 2021 compared to 8.5 per cent in January 2020.