Indian Oil Corporation has successfully gathered $500 million, equivalent to ₹4,770 crore, by utilizing a five-year external commercial borrowing arrangement through the Reserve Bank of India’s special dollar-rupee swap window. The company might secure additional foreign capital before this program ends in December, as the necessity for borrowing has grown due to selling fuel at prices below market rates. The central bank launched this initiative to encourage dollar investments and reduce hedging expenses for government-owned entities.

by shortkt.com✓

4 hours ago