FOREIGN EXCHANGE MANAGEMENT (BORROWING AND LENDING IN RUPEES) REGULATIONS, 2000Foreign Exchange Management (Borrowing And Lending In Rupees) Regulations, 2000
FOREIGN EXCHANGE MANAGEMENT (BORROWING AND LENDING IN RUPEES) REGULATIONS, 2000Foreign Exchange Management (Borrowing And Lending In Rupees) Regulations, 2000
Borrowing in rupees by residents subject to remittance source, interest cap, tenure limit and non repatriation requirement. A resident (other than an Indian-incorporated company) may borrow rupees from a non-resident Indian or person of Indian origin provided funds arrive by ... Summary
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Borrowing in rupees by residents subject to remittance source, interest cap, tenure limit and non repatriation requirement.
A resident (other than an Indian-incorporated company) may borrow rupees from a non-resident Indian or person of Indian origin provided funds arrive by inward remittance or from the lender's NRE/NRO/FCNR/NRNR/NRSR account, the loan is time limited, interest is capped at a margin above the Bank rate, repayments and interest are credited to specified non-resident accounts as required, and the borrowed amount is not eligible for repatriation outside India.
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