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of <h1>New Circular Allows NRIs and PIOs to Get Housing Loans in INR; Relatives Can Repay from India Accounts.</h1> The circular addresses the Foreign Exchange Management (Borrowing and Lending in Rupees) Regulations, 2000, concerning housing loans in rupees to non-resident Indians (NRIs) and persons of Indian origin (PIOs). It permits authorized dealers and approved housing finance institutions in India to provide such loans, with repayments made through inward remittances or specific accounts. A new provision allows close relatives of borrowers in India to repay loan installments directly from their bank accounts. Amendments to the regulations will be issued separately. The circular is issued under the Foreign Exchange Management Act, 1999, and should be communicated to relevant parties.
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