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Document - 38. External Commercial Borrowings (ECBs) – Registrations () or PDF - 38. External Commercial Borrowings (ECBs) – Registrations ()
38. External Commercial Borrowings (ECBs) – Registrations
Date : Jul 22, 2026
(Amount in US $ Million)
Item 2025-26 2025 2026
May Apr. May
1 2 3 4
1. General Permission        
1.1 Number 1378 100 126 144
1.2 Amount 36124 2739 3765 4744
2. Special Permission        
2.1 Number 24 0 0 0
2.2 Amount 6845 0 0 0
3. Total (1+2)        
3.1 Number 1402 100 126 144
3.2 Amount 42969 2739 3765 4744
4. Weighted Average Maturity (in years) 5.30 4.80 5.40 5.20
5. Interest Rate (per cent)        
5.1 Weighted Average Margin over alternative reference rate (ARR) for Floating Rate Loans@ 1.50 1.46 1.39 1.37
5.2 Interest rate range for Fixed Rate Loans 0.00-11.00 0.00-10.00 0.00-11.33 0.00-11.00
Borrower Category        
I. Corporate - Agriculture and Plantation 0 0 0 0
II. Corporate – Manufacturing 7340 1201 1223 374
III. Corporate – Infrastructure 13100 717 1753 1509
a) Transport 2792 400 133 205
b) Energy 6898 0 1235 931
c.) Water and Sanitation 39 0 0 0
d) Communication 153 0 5 240
e) Social and Commercial Infrastructure 129 12 0 105
f) Exploration,Mining and Refinery 3085 305 375 1
g) Infrastructure (Construction and Development of Industrial Parks, Integrated Townships and SEZ) 4 0 5 27
IV. Corporate -Construction (Non-Infrastructure) 1 0 0 180
V. Corporate - Service Sector 3903 242 95 198
VI. Corporate - Financial Sector 18124 566 662 2352
a) Banks 0 0 0 0
b) NBFCs 16499 566 662 2352
c) All India Financial Institution (AIFI) 1475 0 0 0
d) Micro Finance Institution (MFI)(other than Banks, NBFCs & AIFIs) 0 0 0 0
e) Others 150 0 0 0
VII. Other Entities 10 0 0 100
a) Limited Liability Partnership (LLP) 10 0 0 100
b) Partnership Firm 0 0 0 0
c) Cooperative Society 0 0 0 0
d) Society 0 0 0 0
VIII. Others@@ 491 13 32 31
@ With effect from July 01, 2023, the benchmark rate is changed to Alternative Reference Rate (ARR)
@@: ‘Others’ includes ‘not elsewhere classified’
Notes: 1. The figures in the table are compiled based on the Loan Registration Number (LRN) allotted to the application for ECB/Foreign Currency Convertible Bond (FCCB).
2. ‘General and Special Permission’ are introduced in the ‘Form ECB 1’ as per RBI Circular on ‘Reporting under Foreign Exchange Management Act, 1999 – Returns pertaining to External Commercial Borrowing (ECB)’ dated February 18, 2026 in line with the revised ECB framework vide RBI circular on Foreign Exchange Management (Borrowing and lending) (First Amendment) Regulations’ dated February 16, 2026.
3. Borrower category is based on end-use sector as per Form ECB 1.
Based on applications for ECB/Foreign Currency Convertible Bonds (FCCBs) which have been allotted loan registration number during the period.

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