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        FEMA

        Regulation 10 - Continuance of Rupee loan in the Event of Change in the Residential Status of the lender

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

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        Continuance of rupee loan permits repayment to be credited to lender's NRO or NRSR account in India. Where a rupee loan granted by a resident lender to a resident borrower continues after the lender becomes non resident, repayment must be made by credit to the lender's account in India; the lender may elect to receive repayment into either a Non resident Ordinary (NRO) account or a Non resident Special Rupee (NRSR) account maintained with a bank in India.
                          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.

                                Continuance of rupee loan permits repayment to be credited to lender's NRO or NRSR account in India.

                                Where a rupee loan granted by a resident lender to a resident borrower continues after the lender becomes non resident, repayment must be made by credit to the lender's account in India; the lender may elect to receive repayment into either a Non resident Ordinary (NRO) account or a Non resident Special Rupee (NRSR) account maintained with a bank in India.


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