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        FEMA

        Regulation 8A - Rupee Loans to NRI/PIO Employees of Indian Body Corporate

        Foreign Exchange Management (Borrowing And Lending In Rupees) Regulations, 2000

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        Rupee loans to NRI/PIO employees: corporates may grant personal loans if credited to NRO account and repaid from abroad. A body corporate in India may grant rupee loans to NRI or PIO employees only for personal purposes including housing and in accordance with the lender's Staff Welfare/Staff Housing Loan Scheme and terms applicable to resident staff. The lender must ensure loan funds are not used for prohibited end uses, credit the amount to the borrower's NRO account (or indicate so on the payment instrument), and include a term requiring repayment solely by remittance from abroad or from the borrower's NRE, NRO or FCNR account; repayments from other sources are not permitted.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Rupee loans to NRI/PIO employees: corporates may grant personal loans if credited to NRO account and repaid from abroad.

                                A body corporate in India may grant rupee loans to NRI or PIO employees only for personal purposes including housing and in accordance with the lender's Staff Welfare/Staff Housing Loan Scheme and terms applicable to resident staff. The lender must ensure loan funds are not used for prohibited end uses, credit the amount to the borrower's NRO account (or indicate so on the payment instrument), and include a term requiring repayment solely by remittance from abroad or from the borrower's NRE, NRO or FCNR account; repayments from other sources are not permitted.


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