New Delhi, 7 of 2021: Commercial debt of Indian business increased by 24 percent to 9.9.23 billion in March. This is evident from the Reserve Bank data. The country’s companies raised 7.44 billion from the foreign market in the same period a year ago.
Of the total borrowings in March 2021, 35 5.35 billion was raised through the approval route for foreign commercial borrowing (ECB), while the remaining 8 3.88 billion was raised from the international market. No amount of rupees was raised by bonds or spice bonds during this time.
The three companies which have taken loans from abroad with the approval of the government are Indian Railway Finance Corporation (IRFC), ONGC Videsh Rowuma and REC Limited. IRFC has raised 3.33 billion in three installments for infrastructure development, while ONGC Videsh Rowma Limited has raised 1. 1.6 billion.
REC – Rural Electrification Corporation Limited has raised ₹ 425 million for further loans. REC Limited is a company that provides infrastructure financing in the power sector.
Apart from this, Adani Hybrid Energy Jaisalmer, Bharti Airtel, PGP Glass and NTPC have been the top companies raising capital from abroad through automated routes. Indian Oil Corporation and MMR Saha Infrastructure have also received crores of rupees.