Rupee loans to non-resident Indian by Resident

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..... er: Provided that: (i) the loan is free of interest and the minimum maturity of the loan is one year; (ii) the loan amount should be within the overall limit under the Liberalised Remittance Scheme per financial year available for a resident individual. It would be the responsibility of the lender to ensure that the amount of loan is within the limits prescribed under Liberalised Remittance Scheme .....

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..... NRI/PIO. Credit of such loan amount may be treated as an eligible credit to NRO a/c; (vi) the loan amount shall not be remitted outside India; and (vii) repayment of loan shall be made by way of inward remittances through normal banking channels or by debit to the Non-resident Ordinary (NRO)/Non-resident External (NRE)/Foreign Currency Non-resident (FCNR) account of the borrower or out of the sal .....

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