PSUs Raise $130M in ECBs: ONGC, NTPC & Exim Bank Lead January 2026 Foreign Borrowing, RBI Data Shows

New Delhi, 17 March 2026: Public Sector Undertakings (PSUs) in India raised a combined $130 million through External Commercial Borrowings (ECB) in January 2026, according to the Reserve Bank of India (RBI).

Key PSU transactions during the month included:

ONGC Videsh Limited secured $60 million for refinancing earlier ECBs, ensuring smoother debt management for its overseas operations.
NTPC Limited, the country’s power generation giant, raised $15.21 million through the approval route for refinancing domestic loans.
Export-Import Bank of India contributed $100 million under long-term lending facilities to support on-lending by other PSUs.

These borrowings were aimed at refinancing previous loans, supporting infrastructure development, and strengthening working capital. Maturity periods for PSU loans ranged from 5 to 30 years, depending on the lender and the financing purpose.

The data underscores the role of international financial markets in providing PSUs with cost-effective long-term capital. It also reflects the RBI’s continued oversight of foreign currency financing in sectors critical to India’s economy, including energy, power, and financial services.

By tapping global capital, PSUs are ensuring operational flexibility, timely project execution, and robust financial planning for the coming years.

RBI’s January 2026 ECB/FCCB/RDB release highlights the strategic importance of foreign borrowings in sustaining growth and modernization of India’s public sector enterprises.

For detailed PSU-specific ECB data: RBI Official Website