Indian firms borrowing intentions at $5.5 bn in October

Indian firms sought to raise $5.5 billion from the overseas market in October through the external commercial borrowing (ECB) and foreign currency convertible bond (FCCB) route, the latest RBI data shows.

ECB registrations through combined automatic and approval route in October was higher sequentially from $4.8 billion in September as well as year on year basis from $765 million last October.

Though any individual entity did not borrow more than $665 million during the month, the number of borrowers was higher-136 compared to 95 in September and 90 in the same period a year ago.