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Take immediate action and keep sufficient funds in your Account for interest outstanding towards:
Overdraft Account XX1255
Minimum Amount Due:
Rs. 2415.00
Failure to address this promptly may result in increased financial obligations. Non-payment of dues and accumulated charges gets reported to Credit Bureaus which may adversely affect your credit score.
The Reserve Bank of India (RBI) has notified the new Foreign Exchange Management (Guarantees) Regulations, 2026 effective January 06, 2026. These regulations govern guarantees where any one party (i.e., surety/ principal debtor/ creditor) is a Non-Resident under Foreign Exchange Management Act (FEMA), 1999.
Key updates:
•
Mandatory reporting in Form GRN for all applicable guarantees
•
Guarantees covered under these regulations shall be reported by
о
Resident surety, or
о
Principal debtor (if surety is non-resident), or
о
Creditor who has arranged the guarantee
•
The person having the obligation to report the guarantee shall report
о
Issuance of guarantee
о
Changes (in amount, validity period, pre-closure)
о
Invocation of guarantee (if any)
•
Timelines:
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Submit to the Authorised Dealer (AD) bank quarterly within 15 days from quarter-end
о
AD bank to report to the RBI within 30 days from the quarter-end
•
Non-compliance: Delays/non-submission may attract late submission fees
You are advised to review all cross-border guarantees and ensure timely compliance with the above requirements.
For assistance, please visit your nearest ICICI Bank branch.
Sincerely,
Team ICICI Bank
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