RBI notified regarding the Due diligence in relation to non-resident guarantees availed by person’s resident in India

Oct 09, 2024 | by TeamLease RegTech Legal Research Team

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Finance & Taxation ComplianceThe Reserve Bank of India (RBI) on October 04, 2024, issued the notification regarding the Due diligence in relation to non-resident guarantees availed by person’s resident in India.

The following has been stated namely: -

• AD Category-I banks shall ensure that guarantee contracts advised by them to, or on behalf of their resident constituents are in accordance with the FEMA regulations.

[Notification No. RBI/2024-25/79]


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