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LOAN AGAINST NRE DEPOSIT-REPATRIATION RESTRICTIONS???

Tax queries 212 views 1 replies

Please go through Para 7 of the link given below

https://incometaxindia.gov.in/Documents/Provisions%20for%20NR/provision-for-non-resident-fema-borrowing-and-lending-in-rupees-regulations-2000.htm 

The issue is whether a Non Resident can repatriate amounts boorowed from his NRE Deposits? 

For Eg; An NRI is planning to avail Loan against his NRE Deposits, and the loan amount has to be credited to his NRO account only.

Now, this NRI wants to repatriate this amount lying in his NRO Account to his NRE Account.

Is there any restrictions for this?

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