Restriction on foreign transfer of immovable property: RBI may permit transfers; banks may allow property charges for external borrowing. Persons resident outside India are generally prohibited from transferring immovable property in India, except where the Reserve Bank permits a transfer subject to conditions. Authorised dealer banks may, under Reserve Bank directions, permit a resident in India to create a charge on immovable property in favour of an overseas lender or security trustee to secure external borrowings, subject to applicable conditions and regulations.