Issue of Bank Guarantee on behalf of person resident outside India for FDI transactions

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.... resident outside India for FDI transactions Attention of the Authorised Dealer Category - I (AD Category - I) banks is invited to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000, notified vide Notification No. FEMA. 20/2000-RB dated May 3, 2000, as amended from time to time, read with Regulation 5(2A) of the Foreign Exchange Ma....

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....-RB dated May 3, 2000, as amended from time to time, in terms of which, AD Category-I banks are allowed to give guarantees for specified purposes as stated therein. 2. In order to provide operational flexibility and ease the procedures, it has been decided to permit AD Category -I bank to issue bank guarantee, without prior approval of the Reserve Bank, on behalf of a non-resident acquiring share....

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.... the invocation of the guarantee. 4. AD Category - I banks may bring the contents of the circular to the notice of their customers/constituents concerned. 5. Reserve Bank of India has since amended the relevant Regulations vide Notification No.FEMA.265/2013-RB dated March 05, 2013, notified vide G.S.R.No.532(E) dated August 05, 2013 and Notification No. FEMA.267/2013-RB dated March 5, 2013 notif....