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India’s Foreign Debt Increased by 57% to $1.89 Billion
August 28, 2017
As per the RBI data, Indian companies raised $1.89 billion from foreign investors during July, which is a 57.5% year-on-year growth. In July last year, the total overseas borrowings stood at $1.20 billion.
This year’s main investments include foreign currency convertible bonds (FCCBs) and external commercial borrowings (ECBs), etc. However, the data on the rupee denominated bonds (RDBs) for the same month is not available as they were banned by Sebi.
Sebi had released an order last month that said the issuance of rupee-denominated bonds are temporarily ceased until the limit utilization drops back to 92% or less.
