https://www.taxtmi.com/circulars?id=7680 An individual resident may borrow from close relatives outside India subject to RBI permission up to the prescribed foreign currency ceiling, provided the loan has a minimum maturity of one year, is interest free, and the amount is received by inward remittance in free foreign exchange through normal banking channels or by debit to the non resident lender's NRE/FCNR(B) account; "close relative" follows the Companies Act definition. en-us Sat, 27 Sep 2003 00:00:00 +0530 Fri, 25 Sep 2009 11:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=7680 An individual resident may borrow from close relatives outside India subject to RBI permission up to the prescribed foreign currency ceiling, provided the loan has a minimum maturity of one year, is interest free, and the amount is received by inward remittance in free foreign exchange through normal banking channels or by debit to the non resident lender's NRE/FCNR(B) account; "close relative" follows the Companies Act definition. Circulars FEMA Sat, 27 Sep 2003 00:00:00 +0530 https://www.taxtmi.com/circulars?id=7680