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Indian companies borrowed $2.34 billion in February through the external commercial borrowings (ECB) and foreign currency convertible borrowings (FCCB) route to start new projects, import capital goods and for modernisation.
In January, Indian enterprises had borrowed $3.5 billion. In February 2012, Indian companies had borrowed $2.6 billion.
In the current financial year, companies have borrowed $27.16 billion from overseas with varying maturity period.
In February, Reliance Industries was the biggest borrower from overseas, raising $800 million for rupee expenditure.
Among the other major borrowers in February were state-run NTPC ($250 million), Power Finance Corporation ($250 million) and Gitanjali Gems ($200 million).
In the reporting month, $1.26 billion came from the approval route and the rest came from automatic route.
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