Mumbai: Indian industry's borrowings from foreign markets fell by nearly 20% to $3.16 billion in April 2019 compared to the year-ago month, according to the Reserve Bank data. Domestic firms had raised $3.92 billion from overseas markets in April 2018. Of the total external commercial borrowings (ECBs) in April 2019, $2.66 billion was raised through the automatic route, $500 million through approval route while the rest of $304,462 came through the issue of rupee denominated bonds (RDBs), the RBI data showed. JSW Steel Ltd was the only firm that raised $500 million through the approval route to channel capital for modernisation. While, Biosense Technologies Pvt Ltd was the sole firm that floated RDBs or masala bonds overseas to raise $304,462 for new project needs.

Source: Mint June 02, 2019 10:52 UTC