Monday, December 26, 2016

Note ban has adversely affected the corporate India.

Corporate India faces another challenge: the repayment of external commercial borrowings (ECBs). According to data from the finance ministry, $29 billion worth of ECBs are due for repayment during the current financial year. Besides, another $19.6 billion worth of ECBs are due for repayment in FY18. In all, $207 billion worth of foreign debt were up for repayment at the end of March 2016. Post note rupee has weakened and is likely to weaken further in 2017.

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