ECB registrations at two-year low

ACTIVITY SLOWS

- CHRISTINA TITUS

INDIAN COMPANIES HAVE slowed fundraising through external commercial borrowings (ECBs) amid rising hedging costs, experts said.

Registrations by Indian firms for ECBs fell to $2.2 billion in October, the lowest level in 23 months, as per the Reserve Bank of India (RBI) data released on Thursday.

On a month-on-month basis, filings declined 21.4%. Filings for ECBs have fallen steadily since June, when companies sought to raise $3.5 billion.