Foreign borrowing
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 May 2012
Can Indian resident take loan from NRI brother for buying agricultural land ?
Amol S Joglekar
(Expert)
04 May 2012
Loan may be taken subject to the limit generally granted by FEMA. If loan is above the limit, get the special permission (before taking loan) from RBI. Buying agricultural land by the Indian national is subject to State Rules. (Like in Maharashtra, only the existing agriculturist can buy agricultural land etc.)
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