India's external debt grows nearly 13% in a year

Higher short-term trade credit and external commercial borrowings and the wide current-account deficit contributed to a nearly 13% increase in India's external debt over the past fiscal year, the central bank reported. Separately, the bank took steps to further reduce gold demand, requiring that imports against suppliers' or buyers' credit will be on 100% cash margin and on document against payment basis.

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Hindu (India), The · LiveMint.com/The Wall Street Journal (India)

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