Lending to borrowers outside India by a person resident in India [See Regulations 5(A)(i), 5(B)]

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..... L) to borrowers outside India in accordance with the provisions contained in this Schedule. 1. An AD in India may extend External Commercial Lending (ECL) in foreign exchange to a foreign entity in which an Indian entity has made overseas direct investment in accordance with Foreign Exchange Management (Transfer or Issue of any Foreign Security) Regulations, 2004 , as amended from time to time. 2. .....

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..... of India. 5. Indian companies may grant loans in foreign exchange to the employees of their branches outside India for personal purposes provided that the loan shall be granted for personal purposes in accordance with the lender's Staff Welfare Scheme / Loan Rules and other terms and conditions as applicable to its staff resident in India and abroad. - - statute, statutory provisions legisla .....

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