Rupee lending to non-residents is permitted through authorised dealers and specified resident lenders, subject to permitted purposes and end-use restrictions. Authorised dealers may lend in Indian Rupees to NRIs and OCI Cardholders for permitted personal, business, housing, vehicle and Board-approved purposes, ... Summary
Rupee lending to non-residents is permitted through authorised dealers and specified resident lenders, subject to permitted purposes and end-use restrictions.
Authorised dealers may lend in Indian Rupees to NRIs and OCI Cardholders for permitted personal, business, housing, vehicle and Board-approved purposes, subject to prudential requirements and restricted end-use compliance. They may also permit prescribed temporary overdrafts in overseas rupee accounts and lend for Government Securities margin payments or eligible cross-border trade. Specified financial institutions may provide housing or vehicle loans, Indian entities may lend to eligible employees under Staff Welfare Schemes, and resident individuals may lend to eligible relatives within the Liberalised Remittance Scheme limit.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.