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TMI BlogBorrowing and Lending in Foreign Exchange by an Authorised dealerX X X X Extracts X X X X X X X X Extracts X X X X ..... ranch 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 constituents in India for meet ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt, 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 guidelines issued by the Reserve Bank from time to time, an authorised ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 branch outside India of an authorised dealer being a bank incorporated or constituted in India, may borrow in foreign currency in the norm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 02 . 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 No. 082/2003 10/1/2003 4. Clause (ii) has been deleted and the subsequent clauses has been renumbered as (ii) and (iii) respectively vide Notification No. 127/2005 dated 5/1 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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