https://www.taxtmi.com/acts?id=33726 A resident of India is generally prohibited from borrowing or lending in foreign exchange with any person, whether resident in India or abroad, and from borrowing in rupees from or lending in rupees to a person resident outside India, subject to exceptions in the Act, rules or regulations and to regulatory permission; credit card use by a non resident in India or by a resident outside India is not deemed borrowing or lending. en-us Sat, 22 Dec 2018 13:33:48 +0530 Wed, 04 Jun 2025 12:39:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=33726 A resident of India is generally prohibited from borrowing or lending in foreign exchange with any person, whether resident in India or abroad, and from borrowing in rupees from or lending in rupees to a person resident outside India, subject to exceptions in the Act, rules or regulations and to regulatory permission; credit card use by a non resident in India or by a resident outside India is not deemed borrowing or lending. Act-Rules FEMA Sat, 22 Dec 2018 13:33:48 +0530 https://www.taxtmi.com/acts?id=33726