Can a loan be taken abroad by third parties against the security of NR/NRE/FCNR (B) deposits

Question: Can a loan be taken abroad by third parties against the security of NRO/NRE/FCNR (B) deposits?

Answer(s)

Raju Kanumuri: Yes, the loan can be taken from the desired banks which you want against the security of NRE/FCNR (B) deposit only but not against the security of NRO deposit.

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