Foreign loan
This query is : Resolved
Harshit kothifoda
(Querist)
06 August 2014
CAN A INDIVIDUAL TAKE LOAN FROM FOREIGN ENTITY ?
06 August 2014
yes but fema guidelines and rbi permission is required
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Harshit kothifoda
(Querist)
06 August 2014
what are the eligibility of an Individual ?
Nikhil Kaushik
(Expert)
06 August 2014
an individual is allowed only to borrow from close relatives (relative is defined as defined in companies act). the loan should be interest free.
Where you wish to borrow from a non-relative, you shall require specific RBI approval.
Where you wish to borrow from a non-relative, you shall require specific RBI approval.
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