Loan from nri
This query is : Resolved
Naga Durga Rao
(Querist)
28 December 2013
Dear all,
Please suggest the following query.
can a resident individual avail a loan from non-resident and what is the limit of the amount.
Regards,
Naga
Please suggest the following query.
can a resident individual avail a loan from non-resident and what is the limit of the amount.
Regards,
Naga
28 December 2013
Hi
Yes he can avail loan from NRI.
Currently, an individual resident is allowed to borrow not more than USD 250,000 or its equivalent from his or her non-resident relative, subject to the conditions of Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) Regulations, 2000.
Thanks//VaibhavJ
Yes he can avail loan from NRI.
Currently, an individual resident is allowed to borrow not more than USD 250,000 or its equivalent from his or her non-resident relative, subject to the conditions of Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) Regulations, 2000.
Thanks//VaibhavJ
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