Cross-border guarantees require regulatory compliance unless authorised under applicable foreign exchange law or permitted directions. Persons resident in India are restricted from participating as principal debtors, sureties or creditors in guarantees involving persons resident outside ... Summary
Cross-border guarantees require regulatory compliance unless authorised under applicable foreign exchange law or permitted directions.
Persons resident in India are restricted from participating as principal debtors, sureties or creditors in guarantees involving persons resident outside India. Cross-border guarantee arrangements are prohibited unless permitted by the Act, applicable rules, regulations or directions, or authorised through the general or special permission of the Reserve Bank of India.
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