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of <h1>Resident Relatives Can Now Repay Any Loans for NRIs in Rupees Under FEMA Guidelines.</h1> The circular addresses the repayment of loans taken by non-resident Indians (NRIs) and persons of Indian origin for housing in India. Previously, only housing loans could be repaid by a resident relative of the borrower. The circular announces a revision allowing resident relatives to repay any loans in rupees taken by NRIs, as per the Foreign Exchange Management Act (FEMA) guidelines. Amendments to the relevant regulations are forthcoming. These directions are issued under specific sections of FEMA and do not override other legal permissions or approvals that may be necessary.
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