Can I take Loan From Foreign Friend?

Pl explain the rules to be followed.

FEMA (Borrowing and Lending) Regulations, 2018 and RBI Master Direction - Borrowing and Lending transactions in Indian Rupee (INR) between Persons Resident in India and Non-Resident Indians / Persons of Indian Origin should help

2.1.1 Borrowing in INR by persons other than companies in India: A person resident in India, not being a company incorporated in India, may borrow in INR from NRIs/PIOs after satisfying the following terms and conditions:

1. Borrowing shall be only on a non-repatriation basis;

2. The amount of loan should be received either by inward remittance from outside India or by debit to NRE/NRO/FCNR(B)/NRNR/NRSR account of the lender, maintained with an authorised dealer or an authorised bank in India;

3. Period of loan shall not exceed 3 years;

4. Rate of interest on the loan shall not be more than two per cent above Bank Rate prevailing on the date of availment of loan;

5. Payment of interest and repayment of principal shall be made only to the NRO account of the lender.

2.1.1 Borrowing in INR by persons other than companies in India: A person resident in India, not being a company incorporated in India, may borrow in INR from NRIs/PIOs after satisfying the following terms and conditions:

1. Borrowing shall be only on a non-repatriation basis;

2. The amount of loan should be received either by inward remittance from outside India or by debit to NRE/NRO/FCNR(B)/NRNR/NRSR account of the lender, maintained with an authorised dealer or an authorised bank in India;

3. Period of loan shall not exceed 3 years;

4. Rate of interest on the loan shall not be more than two per cent above Bank Rate prevailing on the date of availment of loan;

5. Payment of interest and repayment of principal shall be made only to the NRO account of the lender.