Rupee-denominated external borrowing permits resident individuals to obtain NRI and OCI-relative loans under funding and non-repatriation conditions. Authorised Dealers and eligible resident entities may raise Rupee-denominated external commercial borrowings from outside India under Schedule I, while ... Summary
Rupee-denominated external borrowing permits resident individuals to obtain NRI and OCI-relative loans under funding and non-repatriation conditions.
Authorised Dealers and eligible resident entities may raise Rupee-denominated external commercial borrowings from outside India under Schedule I, while importers may obtain Indian Rupee trade credit for permissible imports under Schedule II. A resident individual may borrow Indian Rupees from an NRI or an OCI cardholder relative for use in India if funds are received through inward remittance or debit to the lender's specified account and the borrowing is on a non-repatriation basis. Financial institutions established by Parliament may raise approved overseas Rupee borrowings for onward lending.
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