Non-resident guarantee for non-fund based facilities entered between two resident entities

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Full Text of the Document

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....Category - I) banks is invited to A. P. (DIR Series) Circular No. 20 dated August 29, 2012 in terms of which non-resident guarantee for non-funded facilities such as Letters of Credit/guarantees/Letters of Undertaking (LoU) /Letter of Comfort (LoC) entered between two persons resident in India is allowed under the general permission route. 2. It is clarified that under the provisions of aforesaid....