ECB is defined as commercial loans [in the form of bank loans, buyers’ credit, suppliers’ credit, securitized instruments (e.g. floating rate notes and fixed rate bonds, CP)] availed from non-resident lenders with minimum average maturity of 3 years
The department of Economic Affairs, Ministry of Finance, Government of India with support of Reserve Bank of India.
In 2008 the total amount raised to the tune of 2.77$ Bn
Power sector emerged as biggest borrower with $1.82 Bn
The ECB amount raised in all the other sectors were oil ($783 million), shipping $692.71 million), aviation ($585.36 million), infrastructure ($580.58 million), textiles and garments ($575.68 million), metals ($537.67 million).