Mumbai, Jun 15: Direct investments by Indian firms overseas increased by 48.2 per cent year-on-year to USD 2.69 billion in May, according to the RBI data. They had invested USD 1.82 billion in their overseas ventures in same month of last year. However, the overseas direct investment in May was much lower than USD 4.11 billion in April this year. Also Read: Arundhati Bhattacharya to replace Raghuram Rajan? All you need to know about India’s first potential woman RBI Governor Also Read - COVID-19: India Records Lowest Daily Spike in Cases in Three Months, Recovery Rate Goes Beyond 90% | 10 Points

The investments by the Indian companies were a mix of issuance of guarantees (USD 1.95 billion), loans (365.93 million) and equity (USD 383.71 million). Also Read - International Flights: Who Can Travel Abroad And Where From India | Check Out New Flying Rules

The prominent investors overseas during the month include Videocon Oil Ventures USD 204.08 million, Videocon Industries USD 145 million and Larsen & Toubro Ltd USD 144.48 million. Among other major investors are JSW Steel USD 81.50 million and Bombay Burma Trading Corporation USD 66.3 million. Also Read - RBI Governor Shaktikanta Das Tests Positive For Coronavirus