India's ECB Up Marginally In July

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India's overseas borrowings rose marginally to $2 billion in July compared to the $1.9 billion in June, reports PTI, citing an RBI release. Of the total borrowings, $1.94 billion came via the automatic route and $74 million through approvals.

RBI data say the funds were raised to import capital goods, effect modernization, finance projects, make overseas acquisitions and other things. Among the prominent borrowers were Vedanta Aluminium ($500 million via the automatic route) and Volkswagen India ($190 million).

(Market News Provided by RTTNews)