India Inc’s overseas borrowing dropped down to $1. 47 billion in October
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According to the data by Reserve Bank of India , international markets borrowing of India Innc has dropped down by 30.3 per cent from a year ago to USD 1.47 billion in October 2016.
Since October 2015, they had borrowed a total of USD 2.11 billion from overseas sources.
Also, an additional USD 299.64 million was raised by three companies through newly allowed rupee denominated bonds (RDB) floated overseas -- popularly known as masala bonds.
Hence, the data isn’t comparable while adding the RDB funds alongwith the normal External Commercial Borrowing (ECB) route, which the companies generally use, as this is the second month only thatRBI had published the data on RDB.
Under the ECB route, major borrowers includedReliance Industries USD 184.28 million for refinancing of earlier ECB, Delhi International Airport USD 522.6 million for refinancing of rupee loans/earlier ECB; and Thermal Powertech Corporation India USD 246 million for other purposes.
Recently allowed masala bonds are rupee-denominated financial instruments through which Indian entities can raise funds by accessing overseas capital markets, where the bond investors hold the currency risk.
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Since October 2015, they had borrowed a total of USD 2.11 billion from overseas sources.
Also, an additional USD 299.64 million was raised by three companies through newly allowed rupee denominated bonds (RDB) floated overseas -- popularly known as masala bonds.
Hence, the data isn’t comparable while adding the RDB funds alongwith the normal External Commercial Borrowing (ECB) route, which the companies generally use, as this is the second month only that
Under the ECB route, major borrowers included
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