ECBs De­cline as Lo­cal Rates Fall

The Economic Times - - Companies: Pursuit Of Profit -

In­dian com­pa­nies have slowed down ex­ter­nal com­mer­cial bor­row­ings (ECBs) this fis­cal as do­mes­tic rates have fallen, al­low­ing them to bor­row at a cheaper cost from home. Slow growth, stag­nant cap­i­tal ex­pen­di­ture and end use re­stric­tions on ECBs have also limited In­dian com­pa­nies’ abil­ity to bor­row, bankers said. Com­pa­nies bor­rowed $12.88 bil­lion through ECBs in the first nine months of the cur­rent fis­cal year as against $20.09 bil­lion bor­rowed in the same pe­riod in fis­cal end­ing March 2016.

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