India Inc's foreign borrowing up 67% to $3.16 billion in June

India Inc raised about USD 3.16 billion in overseas borrowing in June, showing a rise of 67 percent over the year-ago month, RBI data showed Monday.

Mumbai: India Inc raised about USD 3.16 billion in overseas borrowing in June, showing a rise of 67 percent over the year-ago month, RBI data showed Monday.

The domestic firms had raised USD 1.89 billion from overseas markets in the same month a year ago.

Of the total borrowings during June 2015, USD 2.35 billion was raised through approval route, while USD 806.48 million came through automatic route.

In the approval route category, Bharti Airtel and Power Finance Corp raised USD 1 billion each for telecommunications business and on-lending, respectively.

Among others major borrowers in the category include Reliance Industries USD 200 million for rupee expenditure needs and Air India raised USD 105 million for import of capital goods.

In automatic route, major borrowers were -- IDFC USD 200 million and Reliance Industries USD 166.67 million for rupee expenditure.

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