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Q: I have PIO card issued in 2011like apassport type prints. is it valid to travel to India?

A: *The government of India has notified that all existing PIO card holders shall be deemed to overseas citizens of Indian cardholder (merger of PIO to OCI) *Until applicants are in receipt of an OCI...

Q: Can loans be granted to NRI/PIO in INR against their own NRE/FCNR deposits?

A: Yes, loans can be granted to NRI/PIOs as well as to third parties in India against NRE/ FCNR deposits without any ceiling subject to usual margin requirements.

Q: Can loans be granted to NRI/PIO in INR against their own NRO deposits?

A: Yes, loans can be granted to NRI/PIOs as well as to third parties in India against NRO deposits without any ceiling subject to for meeting the personal requirements or for carrying on business...

Q: What are the prohibited purposes for which loans cannot be granted to NRIs/PIOs?

A: Loans cannot be granted to NRIs/PIOs for the following purposes: a. Relending b. Carrying on agricultural/ plantation activities. c. Investment in real estate business. ( Real Estate business...

Q: Can NRIs obtain loans for buying a property for residential purposes from financial institutions providing housing finance?

A: Yes. The Reserve Bank has enabled certain financial institutions that deal in housing finance to grant housing loans to NRIs, subject to certain conditions.

Q: Can authorized dealer grant loans to NRIs for the acquisition of a flat/house for residential purpose?

A: Authorized dealers have been granted permission to grant loans up to non-resident Indian nationals for acquisition of house/flat for self-occupation on their return to India subject to certain...

Q: Can NRIs obtain loans for acquisition of house/flat for residential purpose from financial institutions providing housing finance?

A: The Reserve Bank has granted some general permission to certain financial institutions providing housing finance e.g. HDFC, LIC Housing Finance Ltd., etc, and authorized dealers to grant housing...

Q: Can NRI purchase a house or flat for residential purpose with the help of the financial institutions in India?

A: Yes! The RBI has granted permission to financial houses to provide loans to NRIs for the acquisition of house/flats for self-occupation, subject to banking terms and conditions. Although, the...

Q: Can authorize dealer grant loans to NRIs for an acquisition of flat or house for residential purposes?

A: Authorized dealers have been granted permission to grant loans up to non-resident Indian nationals for acquisition of house/flat for self-occupation on their return to India subject to certain...

Q: Can Indian companies grant loans to their NRI staff?

A: Reserve Bank permits Indian firms/companies to grant housing loans to their employees deputed abroad and holding Indian passport subject to certain conditions.