Loan from nri

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Naga Durga Rao (Querist)
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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

@VaibhavJ

@VaibhavJ (Expert)
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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

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