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of <h1>RBI Permits Rupee Loans to NRIs Secured Against Shares or Property, Excludes Real Estate and Chit Fund Uses.</h1> The Reserve Bank of India has issued a circular allowing authorized dealers to grant rupee loans to Non-Resident Indians (NRIs) under certain conditions. These loans can be secured against shares or immovable property in India for personal or business purposes, and housing loans for acquiring residential accommodation. Repayment can be made through NRE/FCNR/NRO accounts or inward remittances. However, the loans cannot be used for activities such as chit funds, Nidhi companies, agriculture, real estate, farmhouses, TDR trading, or capital market investments. Amendments to relevant regulations will be issued separately, and authorized dealers must inform their clients of these changes.
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