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India Inc’s external borrowing jumps 4-fold to $ 3.17 billion

India Inc's external commercial borrowing jumped by over four times to USD 3.17 billion in August this year, RBI data showed today.

By: | Mumbai | Published: September 22, 2016 3:17 PM
Of the total borrowing, USD 586.57 million were raised via the approval route while USD 2.59 billion was generated through the automatic category window, showed the data. (PTI) Of the total borrowing, USD 586.57 million were raised via the approval route while USD 2.59 billion was generated through the automatic category window, showed the data. (PTI)

India Inc’s external commercial borrowing jumped by over four times to USD 3.17 billion in August this year, RBI data showed today.

Indian companies had raised only USD 750.77 million from overseas markets in the same month last year.

Of the total borrowing, USD 586.57 million were raised via the approval route while USD 2.59 billion was generated through the automatic category window, showed the data.

In the approval route category, the Jawaharlal Nehru Port Trust raised USD 400 million for sub-lending and Jet Airways borrowed USD 185 million for working capital requirements.

The major borrowers using the automatic channel included Export Import Bank of India mopping up USD 1 billion for sub-lending and Adani

Transmission USD 500 million for refinancing of rupee loans (84 per cent and refinancing of earlier ECB (16 per cent).

NTPC raised USD 298.77 million for power projects, Gail (India) USD 300 million, IL&FS Transportation Networks USD 80 million for sub-lending and HDFC USD 74.69 million for further lending purposes.

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