Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) (Second Amendment) Regulations, 2002

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..... al Office Mumbai 400 001. Notification No.FEMA/ 75 /2002-RB November 1, 2002 Published in the Official Gazette of Government of India - Extraordinary - Part-II, Section 3, Sub-Section (i) dated 31.12.2002 - G.S.R. No. 854(E) In exercise of the powers conferred by clause (d) of sub-section (3) of Section 6 and sub-section (2) of Section 47 of the Foreign Exchange Management Act, .....

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..... w a sum not exceeding US$.250,000/- or its equivalent from his close relatives outside India, subject to the conditions that - a. the minimum maturity period of the loan is one year; b. the loan is free of interest; and c. the amount of loan is received by inward remittance in free foreign exchange through normal banking channels or by debit to the NRE/FCNR account of the non-resident lend .....

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