https://www.taxtmi.com/acts?id=2182 Prohibition on borrowing or lending in foreign exchange restricts residents of India from engaging in foreign currency borrowings or lendings with persons resident in or outside India, subject only to exceptions expressly provided by the Act, Rules or Regulations and to discretionary permission granted by the Reserve Bank for sufficient reasons. en-us Sat, 19 Jan 2008 22:45:54 +0530 Thu, 26 Jun 2025 12:21:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=2182 Prohibition on borrowing or lending in foreign exchange restricts residents of India from engaging in foreign currency borrowings or lendings with persons resident in or outside India, subject only to exceptions expressly provided by the Act, Rules or Regulations and to discretionary permission granted by the Reserve Bank for sufficient reasons. Act-Rules FEMA Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=2182