Response to this Question

    Loan given to another person against the collateral security of shares/ immoveable property of 'A' is permitted. 'A' can also provide a guarantee in relation to loan to a resident in general provided no direct or indirect outgo from India is involved by way of guarantee commission or otherwise.

    A resident other than a bank can provide guarantee in favour of a NRI only with prior RBI permission.


Date : 16-Nov-2019 

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