External debt of India rises by 8.2% to over $620 bn till Mar 2022

External debt of India rises by 8.2% to over $620 bn till Mar 2022

• The external debt of India has been increased by 8.2% from USD 573 billion (March 2021) to over USD 620 billion (March 2022).
• The External debt as a ratio to GDP fell marginally to 19.9% (2022) from 21.2% (2021).
• The Commercial borrowings, NRIs deposits, short-term trade credit and multilateral loans together accounted for 90% of the total external debt.

CCI approves PayU's $4.7 billion BillDesk acquisition

• The Competition Commission of India (CCI) has approved the $4.7 billion acquisition deal between PayU (backed by Prosus) and online payments firm BillDesk.
• The commission has cleared the acquisition of 100% of the equity share capital of http://IndiaIdeas.com (BillDesk) by PayU Payments.
• The PayU-BillDesk deal is pegged as the second-largest buyout in the Indian internet sector after Walmart’s $16 billion acquisition of ecommerce major Flipkart in 2018.