Foreign borrowings hit over $6 billion in June as 140 firms tap global market

MUMBAI: A total of $6.07 billion was raised by 140 companies through external commercial borrowings (ECBs) and foreign currency convertible bonds (FCCBs) in June, RBI data shows. Shriram Finance ($1.32 billion) and Microsoft Corp India ($1.43 billion) were two of the largest borrowers of foreign funds during the month. Air India raised $133 million for the likely import of airplanes from a leasing company during the month, RBI data showed.