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of <h1>Authorized dealers may grant rupee loans to NRIs under FEMA Regulation 7 with specific restrictions</h1> Under FEMA Regulation 7, authorized dealers in India may grant rupee loans to non-resident Indians against security of shares, securities, or immovable property (excluding agricultural/plantation property). Loans must be for personal or business purposes, cannot be used for prohibited activities like chit funds, agricultural activities, or real estate business. Loan amounts cannot be credited to certain non-resident accounts or remitted outside India. Repayment must be through foreign remittances or specific account debits. Special provisions allow loans for Employee Stock Option Schemes up to 90% of share purchase price or twenty lakhs, whichever is lower.
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