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of <h1>RBI expands foreign exchange borrowing eligibility to include micro-finance NGOs with USD 5 million limit</h1> The Reserve Bank of India issued the Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) (Second Amendment) Regulations, 2005, effective retrospectively from April 25, 2005. The amendment expands borrowing eligibility to include non-government organizations engaged in micro-finance activities, with a borrowing limit of USD 5 million per financial year. For other eligible companies, the borrowing limit under the Automatic Route was set at USD 500 million per financial year. The regulations exclude financial intermediaries like banks and non-banking finance companies from eligibility, while allowing the central bank to specify additional eligible entities and purposes.
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