look news india
Ahmedabad: The Reserve Bank of India has received proposals to raise $ 11.04 billion for external commercial lending (ECB) from Indian companies, including non-banking financial companies in March 2025. Which is the highest monthly amount in the last 72 months.
According to the Reserve Bank data, the target of raising funds by automated route in March 2025 was $ 8.34 billion and $ 2.69 billion by approved route.
The data shows that the total ECB offering in FY 2025 was $ 61.18 billion. These proposals were more than $ 48.81 billion in FY 2024 and 25.98 billion in FY 2023.
Softening in inflation, interest rates are expected to decrease in June
Major companies applying to the Reserve Bank in March 2025 also included JSW Steel Limited, who applied for a $ 900 million ECB to refinance its old ECB. ONGC Foreign Limited, a government company working in crude oil and natural gas business, has applied to raise $ 450 million.
It applied to another $ 150 million ECB to invest in joint enterprises and full -owned subsidiaries. Mangalore Refinery and Petrochemicals Limited, a unit of government company ONGC, applied for an ECB of $ 500 million to refinance the amount raised by the ECB.