https://www.taxtmi.com/acts?id=2237 A resident (other than an Indian-incorporated company) may borrow rupees from a non-resident Indian or person of Indian origin provided funds arrive by inward remittance or from the lender's NRE/NRO/FCNR/NRNR/NRSR account, the loan is time limited, interest is capped at a margin above the Bank rate, repayments and interest are credited to specified non-resident accounts as required, and the borrowed amount is not eligible for repatriation outside India. en-us Sat, 19 Jan 2008 22:45:54 +0530 Thu, 26 Jun 2025 14:57:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=2237 A resident (other than an Indian-incorporated company) may borrow rupees from a non-resident Indian or person of Indian origin provided funds arrive by inward remittance or from the lender's NRE/NRO/FCNR/NRNR/NRSR account, the loan is time limited, interest is capped at a margin above the Bank rate, repayments and interest are credited to specified non-resident accounts as required, and the borrowed amount is not eligible for repatriation outside India. Act-Rules FEMA Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=2237