India Inc's foreign borrowing up 67% to $3.16 billion in June

India Inc raised about US $3.16 billion in overseas borrowing in June, showing a rise of 67% over the year-ago month, RBI data showed on Monday.

The domestic firms had raised US $1.89 billion from overseas markets in the same month a year ago.

Of the total borrowings during June 2015, US $2.35 billion was raised through approval route, while US $806.48 million came through automatic route.

In the approval route category, Bharti Airtel and Power Finance Corp raised US $1 billion each for telecommunications business and on-lending, respectively.

Among others major borrowers in the category include Reliance Industries US $200 million for rupee expenditure needs and Air India raised US $105 million for import of capital goods.

In automatic route, major borrowers were -- IDFC US $200 million and Reliance Industries US $166.67 million for rupee expenditure.