Lending in Indian Rupees by a Person Resident in India

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..... nts/own business purposes/acquisition of a residential accommodation in India/ acquisition of motor vehicle in India / or for any purpose as per the loan policy laid down by the Board of Directors of the AD and in compliance with prudential guidelines of Reserve Bank of India. The AD bank should ensure that the borrowed funds are not used for restricted end uses. ii) Overdraft in rupee account .....

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..... ion 2(f) of Government Securities Act, 2006, and the word securities shall be construed accordingly. ] B. Lending by persons other than Authorised Dealer i) A registered non-banking financial company in India or a registered housing finance institution in India or any other financial institution as may be specified by the Reserve Bank from time to time, may provide housing loan or vehic .....

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..... rrower should ensure that the borrowed funds are not used for restricted end uses. ************ NOTES:- 1. Inserted vide NOTIFICATION NO. No. FEMA. 3(R)2/2021-RB dated 24-05-2021 - - statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulations, Taxation Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - Tax .....

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