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Continuation of loan in the Event of Change in the Residential Status of the lender/borrower

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Full Text of the Document

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....a resident individual who subsequently becomes a person resident outside India, subject to such terms and conditions as specified by the Reserve Bank from time to time. (ii) In case a loan was granted by a resident individual to another resident individual and the lender subsequently becomes a non-resident, the repayment of the loan by the resident borrower should be made by credit to the NRO ac....