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of <h1>RBI Amends Foreign Exchange Regulations: Indian Banks Can Issue Guarantees for Overseas Loans Retroactively from July 2008.</h1> The Foreign Exchange Management (Guarantees) (Amendment) Regulations, 2009, issued by the Reserve Bank of India, amends the Foreign Exchange Management (Guarantees) Regulations, 2000. Effective from July 11, 2008, the amendment allows authorized dealer banks to permit Indian residents or their representatives to issue guarantees to overseas lenders or security trustees for external commercial borrowings, as per the Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) Regulations, 2000. The amendment is certified to have no adverse effects on any individual due to its retrospective application.
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