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
Loans to non-residents secured by shares or immovable property are permitted subject to RBI directions and use restrictions. Authorised dealers may grant rupee loans to non-resident Indians secured by shares, other securities or immovable property in India, subject to RBI ... Summary
Loans to non-residents secured by shares or immovable property are permitted subject to RBI directions and use restrictions.
Authorised dealers may grant rupee loans to non-resident Indians secured by shares, other securities or immovable property in India, subject to RBI directions. Loans must be used only for personal or own-business purposes and not for activities barred to foreign investment; they must comply with RBI directives, cannot be credited to specified non-resident accounts or remitted abroad, and repayment must be by inward remittance, permitted non-resident account debit, or sale proceeds of the secured assets. ESOP loans to NRI employees are allowed under board-approved policy and prudential limits, paid directly to the company and repaid via permitted channels.
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