Other borrowings in foreign exchange under Automatic Routde or with prior approval of Reserve Bank of India under the Approval Route or as Trade Credit

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....Other borrowings in foreign exchange under Automatic Route or with prior approval of Reserve Bank of India under the Approval Route or as Trade Credit- (1) A person resident in India, other than a branch or office in India owned or controlled by a person resident outside India, may raise in accordance with the provisions of the Automatic Route Scheme specified in Schedule I, foreign curren....

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....ngs subject to the terms specified in Schedule III hereto; provided that this shall be deemed to have come into force with effect from April 17, 2004.] ^2[(4)Where prior approval is required the Reserve Bank may grant its approval subject to such terms and conditions as it may consider necessary; Provided that while considering the grant of approval, the Reserve Bank shall take into account ....