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TMI BlogLoans in Rupees to Non-residentsX X X X Extracts X X X X X X X X Extracts X X X X ..... nt loan to a non-resident Indian, (A) against the security of shares or other securities held in the name of the borrower, or (B) against the security of immovable property (other than agricultural or plantation property or farm house), held by him in accordance with the Foreign Exchange Management (Acquisition and transfer of immovable property in India) Regulations, 2000: Provided that (a) the l ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... property shall be duly complied with; (d) the loan amount shall not be credited to Non-resident External (NRE)/ 1 (***) Foreign Currency Non-resident (FCNR)/Non-resident Non-repatriable (NRNR) account of the borrower; (e) the loan amount shall not be remitted outside India; (f) repayment of loan shall be made from out of remittances from outside India through normal banking channels or by debit t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd derivatives. (b) the Reserve Bank's directives on such advances shall be duly complied with; (c) the loan amount shall not be credited to NRE/FCNR(B) accounts; (d) the loan amount shall not be remitted outside India; (e) repayment of loan shall be made from out of remittances from outside India through normal banking channels or by debit to NRE/FCNR(B)/NRO accounts. 4 (D) An Authorised Deal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... his/her NRO/NRE/FCNR(B) account. (vi) The loans will be included for reckoning capital market exposures and the bank will ensure compliance with prudential limits, prescribed by the Reserve Bank from time to time, for such exposure to capital market. ********************************* Note : 1. The words 'Non-Resident Ordinary (NRO)/' has been deleted vide Notification No. 031/2000 dated 27 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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