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<h1>Foreign exchange borrowing and lending rules restrict resident persons' cross border currency transactions and impose RBI conditions.</h1> Regulates borrowing and lending in foreign exchange by persons resident in India under powers conferred by the Foreign Exchange Management Act; transactions in foreign currency by residents are subject to the Reserve Bank's authority to permit, restrict, or prescribe conditions for cross border borrowing and lending, and must comply with the Bank's specified conditions, limits, and procedures.