External borrowings

https://www.rbi.org.in/scriptts/BS_FemaNotifications.aspx?Id=158

Partnership Firm doesn,t qualify as a "Eligible Borrower" under the External Commercial Borrowing Scheme(ECB) Scheme , hence Partnership Firm can't  take loan from Non-Resident Entity.

However trade credits are permitted.

Anuj

+91-9810106211

femaquery @ gmail.com

Hello sir thank you for your information.... further i would also like to know whether an individual can take loan from foreign citizen... if yes what is the procedure.........

Individual also can't take loan from a foreign citizen unless the other person is a "NRI" who is also a "close relative".

Anuj

+91-9810106211

femaquery @ gmail.com