Loans in Rupees by resident individuals to NRI close relatives

Last updated: 16 September 2011

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RBI/2011-12/180 A.P. (DIR Series) Circular No. 18 September 16, 2011 To All Banks Authorised to Deal in Foreign Exchange Madam / Sir, Loans in Rupees by resident individuals to NRI close relatives Attention of the Authorised Dealer (AD) banks is invited toRegulation 7 of theNotification No. FEMA 4/2000 dated May 3, 2000, viz. Foreign Exchange Management (Borrowing and Lending in Rupees) Regulations, 2000, as amended from time to time, in terms of which an authorised dealer in India

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Notification No : RBI/2011-12/180

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