Dear All,
ECBs stand at US$ 3.5bn during Nov 2014
Indian firms have raised US$ 3.5 bn through external commercial borrowings (ECBs) in the month of November 2014 as against US$ 2.8 bn during October 2014 by automatic and approval route. The borrowings stood at US$ 3.5 bn in Nov 2014 as compared to US$ 2.2 bn in Nov 2013.
External commercial borrowings (ECBs) since April 2011 (US$bn)
Source: PHD Research Bureau, compiled from RBI
Note: ECB contains both automatic and approval routes
India has received gross ECBs worth around US$267.9 bn between FY2001 and FY2015 (till Nov 2014).
Gross ECB Inflows (US$bn)
Source: PHD Research Bureau, compiled from RBI *Data pertains till Nov 2014
Note: ECB contains both automatic and approval routes
A closer look at the ECBs pattern reveals that the lion’s share in ECB during the month of November 2014 is held by Refinancing of earlier ECB contributing to about 45% of the total, followed by Power at around 18% and Refinancing of Rupee loans at about 14%.
Pattern showing ECBs during Nov 2014 (% share in total)
Source: PHD Research Bureau, compiled from RBI, Note: ECB contains automatic and approval route both.
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