https://www.taxtmi.com/acts?id=33726 Borrowing and lending restrictions generally bar a person resident in India from borrowing or lending foreign exchange with persons resident in India or outside India. They also bar borrowing rupees from, or lending rupees to, persons resident outside India. Reserve Bank may, for sufficient reasons, permit transactions otherwise covered by these restrictions. Qualifying credit-card use is not treated as borrowing or lending in rupees or foreign exchange. en-us Sat, 22 Dec 2018 13:33:48 +0530 Tue, 08 Sep 2026 12:00:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=33726 Borrowing and lending restrictions generally bar a person resident in India from borrowing or lending foreign exchange with persons resident in India or outside India. They also bar borrowing rupees from, or lending rupees to, persons resident outside India. Reserve Bank may, for sufficient reasons, permit transactions otherwise covered by these restrictions. Qualifying credit-card use is not treated as borrowing or lending in rupees or foreign exchange. Act-Rules FEMA Sat, 22 Dec 2018 13:33:48 +0530 https://www.taxtmi.com/acts?id=33726