About Clasis Law

Clasis Law is one of the leading full-service Indian law firms which provide speedy services while upholding the law and following every regulation in the book. The firm is recognized as highly professional and process-driven, with the necessary systems and infrastructure to provide hassle-free services to clients. It has an established capability and operational ability to advise clients across borders through its vibrant network of international law firms located around the globe, including in some of the most difficult jurisdictions in the world. The firm's clients range from Fortune 500 companies to SMEs and small businesses. In addition, it provides specialized services to international SMEs that choose India as their preferred investment destination.

Overseas foreign currency borrowings of Authorised Dealer Category-I banks

The Reserve Bank of India (RBI) vide Circular No. RBI/2022-23/88 A. P. (DIR Series) Circular No. 08 dated July 07, 2022 issued the “Overseas foreign currency borrowings of Authorised Dealer Category-I banks”. In relation can utilise the funds raised from overseas foreign currency borrowings between July 08, 2022 and October 31, 2022 (both dates included) in terms of paragraph Part-C(5)(a) of the Master Direction - Risk Management and Inter Bank Dealings dated July 05, 2016, for lending in foreign currency to constituents in India. Such lending shall be subject to the end-use prescriptions as applicable to External Commercial Borrowings (ECBs) in terms of paragraph 2.1(viii) of the Master Direction - External Commercial Borrowings, Trade Credits and Structured Obligations dated March 26, 2019, as amended from time to time. This facility will be available till the maturity/ repayment of the overseas foreign currency borrowings.

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