https://www.taxtmi.com/circulars?id=2064 Authorised Dealers may grant rupee loans to NRIs against acceptable security under bank board-approved policy, with loan quantum, interest rate and margins decided by the Authorised Dealer per banking directives; repayments may be made from NRE/FCNR/NRO accounts or inward remittances. Proceeds must not be used for prohibited activities including chit funds, nidhi companies, agricultural/plantation activities, real estate business or farm houses, trading in transferable development rights, or capital market investments including margin trading and derivatives. en-us Thu, 12 Feb 2004 00:00:00 +0530 Sat, 04 Oct 2008 11:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=2064 Authorised Dealers may grant rupee loans to NRIs against acceptable security under bank board-approved policy, with loan quantum, interest rate and margins decided by the Authorised Dealer per banking directives; repayments may be made from NRE/FCNR/NRO accounts or inward remittances. Proceeds must not be used for prohibited activities including chit funds, nidhi companies, agricultural/plantation activities, real estate business or farm houses, trading in transferable development rights, or capital market investments including margin trading and derivatives. Circulars FEMA Thu, 12 Feb 2004 00:00:00 +0530 https://www.taxtmi.com/circulars?id=2064