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of <h1>RBI Amends Regulation 4: Allows Guarantees for Non-Resident Service Providers, Capped at USD 100,000 for Residents</h1> The Reserve Bank of India amended the Foreign Exchange Management (Guarantees) Regulations, 2000, specifically Regulation 4, through the Foreign Exchange Management (Guarantees) (Amendment) Regulations, 2007. Effective from November 17, 2006, the amendment introduces a new clause in sub-regulation (3) of Regulation 4, allowing guarantees in favor of non-resident service providers on behalf of resident service importers. The permissible amount for such guarantees is capped at USD 100,000 or its equivalent.
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