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of <h1>New Guidelines for Indians Lending to NRI/PIO Relatives: Interest-Free, USD 200k Cap, One-Year Maturity, Specific Usage Only.</h1> The circular addresses the guidelines for resident individuals in India lending in Rupees to their non-resident Indian (NRI) or Person of Indian Origin (PIO) close relatives. It permits such loans under specific conditions: loans must be interest-free with a minimum maturity of one year, within the USD 200,000 limit under the Liberalised Remittance Scheme, and used for personal or business purposes in India, excluding prohibited activities like real estate or agricultural businesses. Loan amounts must be credited to the NRO account of the NRI/PIO and cannot be remitted outside India. Repayment should occur through specified channels. Amendments to relevant regulations are forthcoming.
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