Foreign currency borrowings framework updated: three routes defined with eligibility, permitted end uses, maturities and reporting obligations. Amendments restructure Regulation 6 to permit resident persons to raise foreign currency borrowings via an Automatic Route, an Approval Route with prior Reserve Bank permission, or as Trade Credit, each governed by separate Schedules specifying eligible borrowers and lenders, permitted end uses and prohibitions, minimum average maturities, all in cost ceilings, security, prepayment, parking of proceeds abroad, loan registration, drawdown and reporting requirements; the Reserve Bank may approve borrowings outside the Schedules on such terms as it considers necessary.
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Provisions expressly mentioned in the judgment/order text.
Foreign currency borrowings framework updated: three routes defined with eligibility, permitted end uses, maturities and reporting obligations.
Amendments restructure Regulation 6 to permit resident persons to raise foreign currency borrowings via an Automatic Route, an Approval Route with prior Reserve Bank permission, or as Trade Credit, each governed by separate Schedules specifying eligible borrowers and lenders, permitted end uses and prohibitions, minimum average maturities, all in cost ceilings, security, prepayment, parking of proceeds abroad, loan registration, drawdown and reporting requirements; the Reserve Bank may approve borrowings outside the Schedules on such terms as it considers necessary.
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