Indian firms line up $7.7 billion in ECB proposals in July

Indian companies filed proposals worth $7.70 billion for external commercial borrowings in July. This represented a significant 27% growth over the previous month's figures. The Reserve Bank of India had eased

its borrowing framework earlier in February. Air India and Interglobe Aviation together filed proposals worth $780 million. These companies sought special permissions from the central bank for their borrowings.