Other borrowings in foreign exchange under Automatic Routde or with prior approval of Reserve Bank of India under the Approval Route or as Trade Credit

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..... reign exchange under Automatic Route or with prior approval of Reserve Bank of India under the Approval Route or as Trade Credit- (1) A person resident in India, other than a branch or office in India owned or controlled by a person resident outside India, may raise in accordance with the provisions of the Automatic Route Scheme specified in Schedule I, foreign currency loans of the nature or for .....

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..... dule III hereto; provided that this shall be deemed to have come into force with effect from April 17, 2004. 2 (4)Where prior approval is required the Reserve Bank may grant its approval subject to such terms and conditions as it may consider necessary; Provided that while considering the grant of approval, the Reserve Bank shall take into account the overall limit stipulated by it, in consultatio .....

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..... , may apply to the Reserve Bank for approval to raise such loans." 2. Sub-regulation (2) has been renumbered as (4) and the words "Where prior approval is required" has been added in the beginning vide Notification No. Supra 3. Has been substituted vide Notification No. Supra and sub-regulation (3) has been renumbered as sub-regulation (5), before it was read as, "(3) Any other foreign currency lo .....

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