Borrowing and Lending in Foreign Exchange by an Authorised dealer

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..... his branch outside India may lend in foreign currency in the circumstances and subject to the conditions mentioned below, namely: (i) A branch outside India of an authorised dealer being a bank incorporated or constituted in India, may extend foreign currency loans in the normal course of its banking business outside India; (ii) An authorised dealer may grant loans to his constitue .....

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..... e to his constituent maintaining 1 (***) RFC Account, against the security of funds held in such account. (v) A branch outside India of an authorised dealer may extend foreign currency loans against the security of funds held in NRE/FCNR deposit accounts maintained in accordance with the Foreign Exchange Management (Deposit) Regulations, 2000. (vi) Subject to the directions or .....

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..... of his unimpaired Tier I capital or US$ 10 million, whichever is more, subject to such conditions as the Reserve Bank may direct. Explanation: For the purpose of clause (i), the aggregate loans availed of by all branches in India of the authorised dealer from his Head Office, all branches and correspondents outside India, shall be reckoned. 4 (***) 4 (ii) A b .....

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..... 14/8/2000 2. For the words 'fifteen per cent', the words 'twenty five per cent', has been substituted vide Notification No. 060/2002 dated 29/4/2002 . Further for the words 'twenty five per cent', the words 'fifty per cent', has been substituted vide Notification no. 182/2009 dated 13/1/2009 with effect from 15/10/2008 3. Has been added vide Notification .....

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..... l money market borrowings for a period of at least four weeks prior to the week in which the repayment is made. 5. Substituted vide Notification No. FEMA. 286/2013-RB September 05, 2013 , before it was read as, 2 fifty per cent . 6. Inserted vide NOTIFICATION No. FEMA. 288/2013-RB September 26, 2013 - - statute, statutory provisions legislation, law, enactment, Acts, Ru .....

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