Mumbai: Owing to the rise in short-term credits and external commercial borrowings (ECB) India’s external debt shot up by 13% to US$ 390 billion. The information was officially disclosed by the country’s apex financial body, the Reserve Bank of India.
“A sizeable increase is witnessed in the ECBs and rupee denominated by the Non-resident Indian deposits,” said RBI in its official release.
The data revealed, the share of ECBs (US$120.9 billion) to continue at the highest point of 31% of the total debt, and is followed by short term debt of 24.8% and NRI deposits of 18.2%. Whereas, the NRI deposits marked a rise by US$12.2 billion to US$70.8 billion at the end of March 2013.
The country’s total external debt as of March end 2012 stood at US$345.5 billion.
EPC World News Bureau
“A sizeable increase is witnessed in the ECBs and rupee denominated by the Non-resident Indian deposits,” said RBI in its official release.
The data revealed, the share of ECBs (US$120.9 billion) to continue at the highest point of 31% of the total debt, and is followed by short term debt of 24.8% and NRI deposits of 18.2%. Whereas, the NRI deposits marked a rise by US$12.2 billion to US$70.8 billion at the end of March 2013.
The country’s total external debt as of March end 2012 stood at US$345.5 billion.
EPC World News Bureau