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of <h1>Cross-border guarantees by Indian residents: new rules restrict participation, add exemptions, and require quarterly reporting with late fees.</h1> Supersedes the earlier 2000 framework and regulates cross-border guarantees involving a person resident in India and any party resident outside India by prohibiting participation except as permitted under these regulations or with RBI permission, thereby requiring compliance for resident principal debtors, sureties and creditors in such guarantees. Exempts specified guarantees by overseas/IFSC branches of authorised dealer banks, specified irrevocable payment commitments for FPI clearing arrangements, and guarantees issued under the overseas investment regime, thereby excluding them from these requirements. Permits residents to act as surety or principal debtor only for non-prohibited underlying transactions and where reciprocal borrowing/lending eligibility exists, subject to stated carve-outs. Prescribes quarterly reporting of issuance, modifications and invocation to an authorised dealer bank and imposes a late submission fee formula for delayed reporting.
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