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of <h1>RBI Amendments Allow NGOs and MFIs to Borrow in Foreign Exchange with USD 10M Cap, Effective 2011</h1> The Reserve Bank of India amended the Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) Regulations, 2000. The amendments, effective from specified dates in 2011, involve changes to Schedules I and II. Non-Government Organizations and Micro Finance Institutions engaged in micro-finance can borrow in foreign exchange under specified terms, with a cap of USD 10 million per financial year. The maturity terms for borrowings are set at a minimum of 3 years for amounts up to USD 20 million and 5 years for amounts exceeding USD 20 million, with provisions for call/put options under certain conditions.
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