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  4. India May Borrow $9.5 Billion By Pledging Assets : Bloomberg

India May Borrow $9.5 Billion By Pledging Assets : Bloomberg

Mumbai, Dec 22: India plans to borrow up to Rs 500 billion ($9.5 billion) by pledging property and shares to bridge the government's budget deficit, Bloomberg reported on Thursday, citing unnamed government officials. Shares in

PTI Published : Dec 22, 2011 18:22 IST, Updated : Dec 22, 2011 18:23 IST
india may borrow 9.5 billion by pledging assets bloomberg
india may borrow 9.5 billion by pledging assets bloomberg

Mumbai, Dec 22: India plans to borrow up to Rs 500 billion ($9.5 billion) by pledging property and shares to bridge the government's budget deficit, Bloomberg reported on Thursday, citing unnamed government officials.


Shares in companies such as cigarette-to-hotels group ITC, engineering conglomerate Larsen & Toubro and Axis Bank held by a state-controlled fund could be offered as collateral to raise the cash, the news agency said.

The cash will be used by a newly-created fund manager to buy stock in state-run companies and help the government's 400 billion rupees divestment programme for the fiscal year that ends in March, it said.

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