Section 5(d) in The Foreign Exchange Management (Guarantees) Regulations, 2000
(d)[ a bank which is an authorised dealer may, subject to the directions issued by the Reserve Bank in this behalf, permit a person resident in India or on behalf such person to issue guarantee in favour of an overseas lender or security trustee to secure an external commercial borrowing availed under the provisions of the Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) Regulations, 2000 (Notification No. FEMA 3/2000-RB, dated 3-5-2000).] [Inserted by Notification No. G.S.R. 300 (E) dated 3.2.2009 (w.e.f. 11.7.2008)]
