RBI granted 81 ECB/FCCB approvals for $1,953 million during June 2013, comprising 71 approvals for $1,007 million under automatic route and 10 for $946 million under approval route. The preceding month had seen 61 approvals for $2,486 million and June last year 96 for $1997 million. During April-June 2013, the first quarter of the ongoing fiscal, 195 ECB/FCCB approvals were given for $5,564 million, against 237 approvals for $10,939 million during January-March and 252 for 8,099 million in the first quarter of 2012-13.

ECB/FCCB Approvals during April-June 2013
Month
No of approvals
US$ Million
April
53
1125
May
61
2486
June
81
1953

Major approvals given during the month included

  • $152 in ECB to Gujarat Pipavav Port for its port project
  • $180 million to Uttam Galva Steels for refinancing rupee loans
  • $487 million in ECB to Reliance Industries for import of capital goods
  • $125 million in ECB to Amtek Auto for refinancing old loans
  • $90 million in ECB to Air India for import of capital goods
  • $40 million in ECB to Honda Cars India for import of capital goods
  • $86 million in ECB to Renault Nissan Automotive India for import of capital goods
  • $50 million in ECB to Larsen & Toubro for rupee expenditure, LOC, CG
  • $78 million in ECB to Bilt Graphic Paper Products for import of capital goods
  • $100 million in ECB to Essar Oil for modernization
  • $50 million in ECB to GMR Chhattisgarh Energy for import of capital goods
  • $55 million in FCCB to Fortis Healthcare for overseas investment

Print pagePDF pageEmail page

LEAVE A REPLY

Please enter your comment!
Please enter your name here

*