Foreign debt of Indian companies decreased by 68 percent in April

[caption id="" align="alignnone" width="750"] Courtesy: Dmitry Demidko[/caption]

According to the Reserve Bank of India (RBI) data, the debt taken by Indian companies from abroad decreased by 68.5 per cent to 996 million US dollars in April.

Indian companies raised $ 3.16 billion from the overseas market in this month in the last financial year. On the other hand, no funds were raised through rupee denominated bonds (RDBs) or masala bonds in April 2020, compared to RDBs in the same month a year earlier. $ 304,462 was borrowed through.

In April this year, $ 696 million was raised through the automatic route of external commercial borrowing (ECB) in total borrowing from the overseas market. REC, a financial services company, raised $ 300 million through the ECB approval route.