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of <h1>Non-resident guarantees for domestic rupee credit facilities allowed; rupee discharge, recovery, repatriation and credit-enhancement rules set</h1> Permits non-resident guarantees for domestic rupee fund-based and non-fund-based facilities by clarifying that no foreign exchange transaction arises until guarantee invocation; the guarantor may discharge liability by rupee funds in India, inward remittance, or debit to FCNR(B)/NRE account, and upon recovery enforce claims against the resident borrower with repatriation allowed only where liability was discharged by remittance or FCNR(B)/NRE debit while recovery after rupee-balance payment may be credited to the guarantor's NRO account. Separately, authorises credit enhancement by specified eligible non-resident entities for rupee debt capital market instruments subject to minimum three-year average maturity, fee caps (2%), cost and novation-pricing rules, hedging/eligibility and ECB reporting applicability.
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