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of <h1>Indian residents can borrow foreign currency through three routes under FEMA Regulation 6: automatic, approval-based, and trade credit options.</h1> Regulation 6 of FEMA's Foreign Exchange Management Regulations 2000 governs foreign currency borrowings by Indian residents. It establishes three routes: Automatic Route for specified loan types per Schedule I, Approval Route requiring Reserve Bank's prior approval for loans under Schedule II, and Trade Credit up to USD 20 million per transaction under Schedule III terms. The Reserve Bank may approve other foreign currency loans outside these schedules and can impose necessary terms and conditions while considering overall limits set in consultation with the Central Government.
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