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Financials stocks edge lower

Financials stocks were trading in red, with the S&P BSE Finance index decreasing 33.57 points or 0.44% at 7643.47 at 13:48 IST. Among the components of the S&P BSE Finance index, Dewan Housing Finance Corporation Ltd (down 4.84%), Muthoot Finance Ltd (down 2.35%),Bajaj Finance Ltd (down 2.06%),Equitas Holdings Ltd (down 2%),Shriram Transport Finance Company Ltd (down 1.71%), were the top losers. Among the other losers were Manappuram Finance Ltd (down 1.68%), Repco Home Finance Ltd (down 1.66%), CSB Bank Ltd (down 1.66%), BF Investment Ltd (down 1.61%), and Muthoot Capital Services Ltd (down 1.5%). On the other hand, Indian Overseas Bank (up 10%), Bank of Maharashtra (up 9.82%), and Bank of India (up 7.41%) turned up.

India Inc raised $3 73 b via ECB route in January - The Hindu BusinessLine

India Inc raised $3.73 b via ECB route in January March 02, 2021 × India Inc raised $3.7316 billion via external commercial borrowings (ECBs) under the automatic route in January 2021, about 26 per cent higher than what was raised in the preceding month. In December 2020, Indian companies collectively mopped up $2.9671 billion through ECB route. External Commercial Borrowings are commercial loans raised by eligible resident entities from recognised non-resident entities and should conform to parameters such as minimum maturity, permitted and non-permitted end-uses, and maximum all-in-cost ceiling. The growth in borrowing via ECBs comes in the backdrop of non-food bank credit growth slowing to 5.7 per cent on year-on-year (y-o-y) basis in January 2021 compared to 8.5 per cent in January 2020.

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