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India Inc's ECB registrations surged 84% to $49.2 billion in FY24, amid global interest rates and domestic credit growth.
Muthoot Microfin, headquartered in Ernakulam and part of the Muthoot Pappachan group, aims to secure $50 million through external commercial borrowing (ECB) to diversify its funding sources and extend liability duration. The CEO anticipates a syndicated deal at a lower cost than the current average cost of funds.
Funds raised through the ECB route surged 82% in FY24 (till February) to $41.5 billion, RBI data shows.
Get latest articles and stories on Latest News at LatestLY. Muthoot Microfin on Thursday said it has raised USD 75 million by way of external commercial borrowing for on-lending and financing of social loans. Latest News | Muthoot Microfin Raises USD 75 Mn Via ECB.
The Delhi ITAT ruled that management fee received by the non-resident taxpayer bank for extending ECB to an Indian entity is not taxable as fee for technical services (FTS) since it partakes the...