Foreign Exchange Management (Borrowing and Lending in Rupees) (Amendment) Regulations, 2002

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....67/2002-RB dated August 20, 2002 Published in the Official Gazette of Government of India - Extraordinary - Part-II, Section 3, Sub-Section (i) dated 08.11.2002 - G.S.R. No. 754(E) In exercise of the powers conferred by clause (e) of sub-section (3) of Section 6 and sub-section (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999) and in partial modification of its Notifica....

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....may grant rupee loan to its employees who is a non-resident Indian or a Person of Indian Origin, subject to the following conditions, namely : i. The loan shall be granted only for personal purposes including purchase of housing property in India; ii. The loan shall be granted in accordance with the lender's Staff Welfare Scheme/Staff Housing Loan Scheme and other terms and conditions applicabl....