The surge in overseas borrowing plans follows the RBI move to ease the ECB framework, which increased the borrowing cap to $1 billion from the earlier $750 million in a year and removed restrictive all-in-cost ceilings.
The central bank had eased the regulations in February.
Air India and Interglobe Aviation, which operates India’s largest passenger airline Indigo, together filed proposals worth $780 million taking special permissions from the central bank. Interglobe alone sought to raise $310 million for 12 years for importing capital goods, the monthly data sheet released by RBI showed.
Housing & Urban Development Corporation (Hudco) sought to mobilise $1.56 billion for on lending as well as refinancing of rupee loans.
Among other bigger non-bank lenders, Tata Capital filed for $500 million for refinancing rupee loans while Godrej Finance applied for $200 million and Piramal Finance $120 million for onlending.
The Nuclear Power Corporation of India sought a general permission for $100 million borrowing to fund a new project.
The data is based on applications for ECB for which the central bank allotted loan registration numbers in July.
