Guarantees regulation requires RBI permission and quarterly GRN reporting for resident involvement in guarantees with non-residents. The regulations prohibit residents from being party to guarantees involving non-residents except with RBI permission or as provided; define key roles and scope; specify exemptions for AD branches, IFSC operations, IPCs for FPIs, and overseas investment guarantees; permit residents to act as surety or principal debtor subject to transaction permissibility and Borrowing and Lending eligibility with limited exceptions; allow resident creditors to obtain guarantees subject to non-prohibition of the underlying transaction; and impose quarterly reporting via a prescribed GRN with a late submission fee formula for delays.