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I. FEMA
1. RBI notifies FEM (Guarantees) Regulations, 2026; mandates quarterly reporting of guarantees in Form GRN
The RBI issued FEM (Guarantees) Regulations, 2026 superseding the regulations of 2000. It regulates guarantees involving residents and non-residents under FEMA. The following regulations are provided:
a. Prohibition of Indian residents from being parties to guarantees involving non-residents, except as permitted.
b. Exemptions where guarantees provided by overseas or IFSC branches of Authorised dealer banks; certain irrevocable payment commitments and guarantees issued under overseas investment regulations.
c. Permission to Indian resident to act as a Surety or principal debtor.
d. Permission to Indian residents to obtain guarantees as creditors.
e. Reporting requirements - Form GRN introduced.
f. Like other regulations, a late submission fee is prescribed for late reporting and enforcing compliance.
