RBI moves to fine companies for availing foreign guarantee

RBI has told at least two state-owned banks to penalize corporate clients for breaching foreign exchange laws by obtaining guarantees from overseas banks. While such guarantees are barred under FEMA, RBI’s 2019 master direction allows them. The discrepancies between these regulations have led to confusion and potential legal conflicts, prompting RBI to demand regularization.

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FPIs withdraw Rs 48,056 cr from D-St in Oct

Foreign investors withdrew significant funds from Indian equities in October amid concerns over inflation and crude oil prices. Despite this, there were signs of moderation

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