TaxTMI Login
🎉 Festive Offer: Flat 15% off on all plans! →⚡ Don’t Miss Out: Limited-Time Offer →
TaxTMI 
Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Rules for rupee lending to NRIs/OCIs and select foreigners by authorised dealers, NBFCs, employers and individuals</h1> An authorised dealer in India may lend in rupees to non-resident Indians/OCI cardholders for personal, business, residential or motor vehicle purposes or per the AD's board-approved loan policy, subject to RBI prudential guidelines and prohibition on restricted end-uses; an AD may also allow temporary overdrafts in rupee accounts of its overseas branches/correspondents up to prescribed limits and may extend rupee credit for margin payments for settlement of government securities. ADs may lend in rupees to residents of Bhutan, Nepal or Sri Lanka for cross-border trade. Registered NBFCs/housing finance institutions may make housing/vehicle loans to NRIs/OCIs, employers may lend to NRI employees under staff welfare schemes, and resident individuals may lend to NRI relatives within LRS limits, all subject to RBI terms and conditions and restrictions on end-uses.
TaxTMI 
