What are formalities for an foreign investor to obtain bank guarantees from indian bank in favor of a resident?

To obtain bank guarantees from an Indian bank in favor of a resident, a foreign investor must typically fulfill several formalities. This includes establishing a legal presence in India, such as a subsidiary or branch, and providing necessary documentation like financial statements and project details. The investor may also need to comply with the Foreign Exchange Management Act (FEMA) regulations and obtain any required approvals from the Reserve Bank of India (RBI). Additionally, the bank will conduct due diligence to assess the investor's creditworthiness and the purpose of the guarantee.