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 Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>New Policy Caps Loans Against NR(E)RA and FCNR(B) Deposits at Rs. 20 Lakh to Curb Asset Price Inflation.</h1> The circular addresses banks regarding the Foreign Exchange Management (Deposit) Regulations, 2000, specifically concerning loans to non-residents or third parties against Non Resident (External) Rupee Accounts (NR(E)RA) and Foreign Currency Non Resident (Bank) (FCNR(B)) deposits. It highlights a policy decision to limit loans to a maximum of Rupees 20 lakh to curb asset price inflation in sensitive sectors. Banks are instructed not to grant or renew loans exceeding this limit and to avoid manipulating loan amounts to bypass the restriction. Amendments to the regulations will be notified separately, and these directions are issued under the Foreign Exchange Management Act, 1999.
TaxTMI 
TaxTMI 
