RBI data: Indian companies registered USD 8.13 billion in external commercial borrowings in August 2026, financial services took nearly USD 4 billion

Key facts

• Indian companies registered external commercial borrowings (ECBs) worth USD 8.13 billion in August 2026, as per Reserve Bank of India (RBI) data released on October 29, 2026.
• Of the total, USD 7.95 billion was registered under general permission and USD 180 million under special permission.
• Financial services companies accounted for nearly USD 4 billion of the ECB registrations, mainly for on-lending or sub-lending.
• Power Finance Corporation registered USD 775 million and REC registered USD 500 million, both for general corporate purposes.
• Flipkart Internet registered the largest ECB of the month at USD 1.14 billion, a three-year borrowing for on-lending or sub-lending raised from a foreign equity holder.
• Adani Airport Holdings registered a USD 1 billion ECB with five-year maturity from a financial institution in the International Financial Services Centre (IFSC) for modernisation and expansion of existing units.
• Reliance Industries registered about USD 382.3 million for refinancing of existing ECBs, while InterGlobe Aviation registered USD 180 million under the special permission route for import of capital goods.