Mumbai: Indian business’ propositions to raise cash from foreign sources under the external industrial loanings (ECB) path saw a month-on-month dive of 25.8 percent in May at USD 4.74 billion, the Reserve Bank stated on Tuesday.
In April, overall ECB filings were down by 30.69 percent month-on-month.
According to the RBI’s information, overall ECB filings stood at USD 4.74 billion in May 2026, as compared to USD 3.77 billion in April 2026. The whole intent was from the basic consent, and unique authorizations stay ‘nil’ in the reporting month.
Amongst the popular companies that submitted intent in May 2026 with the RBI are Indian Railway Finance Corporation, for USD 1.11 billion, for on-lending and sub-lending; NTPC declared USD 750 million, for Construction-Development (Infrastructure), and Kisetsu Saison Finance (India) submitted 2 ECB propositions of USD 499.1 million for on-lending and sub-lending, RBI information revealed.
Other companies which submitted propositions were REC for a USD 300 million fundraise to re-finance existing ECB, and Equinix India declared USD 240 million for modernisation or growth of existing systems.
ECBs are business loans raised by qualified resident entities from identified non-resident entities.
Independently, the filings for the rupee-denominated bonds (RDB) stood at USD 7.322 million in May, with just one company submitting the proposition to raise funds.
Sahrudaya Health-Care submitted 2 RDB of Rs 30 crore for refinancing of rupee loans, and Rs 40 crore for regional sourcing of capital items, RBI information revealed.
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