Domestic companies had borrowed about $8.05 billion in the April-June 2011 period through external commercial borrowings (ECB) and foreign currency convertible bonds (FCCB).

Borrowings under the ECB/ FCCB route in June 2012, however, dropped by about 41 per cent to about $2 billion compared with the May 2012 figure of $3.37 billion.

JBF Petrochemicals ($416 million), Mercedes Benz India ($232 million), JSW Steel ($225 million) were among the top borrowers in June.

ECB limit was raised by $10 billion in June to allow manufacturing exporters and companies in the infrastructure sector to repay domestic debts and for undertaking fresh capital expenditure. The aggregate ECB limit for companies now stands at $40 billion.

(This article was published on August 8, 2012)
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