While new debts generated from World Bank and ADB in 1996-97 totalled $1.592 billion, outflow due to interest payments made to the two agencies itself amounted to $726.04 million.

International Bank for Reconstruction and Development (IBRD) and International Development Assistance (IDA) - World Bank's soft loan window - together accounted for $609.31 million outflow on interest payments, the accounts disclosed.

Interest payments to ADB on outstanding debts totalled 116.74 million us dollars in 1996-97, almost double the principal amount repaid to the agency during the year.

The repayments to ADB in 1996-97 amounted to 59.65 million us dollars compared to an inflow of 480.18 million us dollars from the Manila-based bank.

However,India's outstanding debt repayments to the multilateral agencies declined marginally in 1996-97 and stood at $15.234 billion, $41.35 million lower than the previous year.

While IBRD's share in India's external debts was 6.647 billion us dollars, IDA's share stood at $6.622 billion, the finance accounts said.

During the year the outstanding repayments to ADB increased to $1.965 billion from $1.545 billion. Additions to the outstanding payments to IBRD during 1996-97 was $472.77 million while repayments during the year stood at $763.62 million, it said.

India's outstanding debt repayments to the Organisation of Petroleum Exporting Countries (OPEC) also declined from a high of $51.63 million by $11.70 million during 1996-97 to stand at $39.93 million. India's liabilities to the US, inclusive of US exim bank loans also declined to $1.823 billion in 1996-97, the document said. Repayments totalled 129.03 million dollars with no new additions during the year.