In a move to liberalize foreign currency borrowing by Indian corporates, in June the Reserve Bank of India (RBI) introduced significant amendments to the Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) Regulations, 2000.
The amendments facilitate foreign currency borrowing or lending by Indian entities under both the automatic route and the approval route.
Partner
Mulla & Mulla & Craigie Blunt & Caroe
Regulation aims
The regulations set out the rules for foreign currency loans under the Indian foreign exchange regime. They aim to provide flexibility in borrowing by Indian entities, while retaining prudent limits on foreign currency borrowing.
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Shardul Thacker is a partner with Mulla & Mulla & Craigie Blunt & Caroe in Mumbai.
Mulla & Mulla & Craigie Blunt & Caroe
Mulla House, 51 MG Road
Fort, Mumbai 400 001
India
Tel: +91 22 2204 4960, 2262 3191
Fax: +91 22 2204 0246, 6634 5497
Email: info@mullaandmulla.com
