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Use of nre/ nro account

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Querist : Anonymous

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Querist : Anonymous (Querist)
18 December 2012 A person of Indian origin came to India 3 years back. he wants to start a new company. For this purpose he wishes to acquire a loan of 3 crores from his sister who stays in India and is a resident. can he obtain the loan in his NRE/NRO account or he has to open new bank account
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Sudhag

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Sudhag (Expert)
15 October 2013 has this person come back to India permanently. did he go the account converted into RFC account?
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