Mop-ups via ECBs and FCCBs lag

India Inc raised about $970 million less via external commercial borrowings (ECBs) /foreign currency convertible bonds (FCCBs) during the first six months of the current financial year as compared to the year-ago period. In the reporting period, Indian companies raised $13.95 billion ($14.92 billion in the April-September 2013 period) through ECBs/ FCCBs, according to RBI data. In September, India Inc mopped up $3.17 billion via ECBs as against $3.34 billion in the same period last year.