India Inc foreign borrowings down 66% to $1.41 billion in October

India Inc's foreign borrowings dipped nearly 66 per cent to USD 1.41 billion in October this year, Reserve Bank data showed Wednesday. 

The domestic firms had borrowed USD 4.09 billion from overseas markets through external commercial borrowings (ECBs) as well as Foreign Currency Convertible Bonds (FCCBs) in October 2017. 

Besides, there was additional borrowings of USD 314.99 million through rupee denominated bonds (RDBs) in the year-ago month. 

However, the borrowings through RDBs remained unchanged in October this year. 

Of the total borrowing amount in October, the Indian companies brought in USD 1.40 billion through automatic route and the rest of USD 8.54 million was by way of approval route.