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Latest Questions

Q: Can an individual resident Indian borrow money from NRI?

A: An individual resident Indian, may borrow in rupees on non-repatriation basis from an NRI or a PIO, subject to the fulfillment of certain conditions such as the period of loan shall not exceed 3...

Q: Can an NRI purchase capital instrument issued by an Indian company?

A: Yes, an NRI/ OCI including a company, a trust and a partnership firm incorporated outside India and owned and controlled by NRIs or OCIs may subscribe or purchase capital instruments of an Indian...

Q: Can an NRI contribute to the capital of a limited liability partnership concern in India?

A: Yes, an NRI/ OCI including a company, a trust and a partnership firm incorporated outside India and owned and controlled by NRIs or OCIs, may contribute in the capital of a Limited Liability...

Q: Can an NRI become a shareholder in an Indian company

A: Yes, an NRI can become a shareholder or a director in an Indian company.

Q: What is the procedure for NRI to finance a flat?

A: The purchase of the flats can be financed from the fresh remittance through the normal banking channels or from payment from the original NRI account or from NRE accounts. When the flat is under...

Q: Do NRIs require permission to transfer any immovable property to a PIO resident outside India?

A: No specific permission is required for NRIs to transfer any immovable property in India to a person resident in India.

Q: How should purchase consideration for acquiring immovable property in India, be met?

A: The purchase consideration should be met either through inward remittances in foreign exchange through normal banking channels or out of funds from NRI accounts maintained with banks in India.

Q: What is the position regarding the refund of the purchase consideration on account of non-allotment of flats/ plots/ cancellation of bookings in respect of immovable property by NRIs/ PIOs in India?

A: With a review to all credit to NRE/FCNR account of refund of purchase considerations by the seller on account cancellation of bookings, RBI clarified that it will be in order for authorized dealers...

Q: Can resident Power Of Attorney holders repatriate funds held in the NRE account out of India?

A: The resident Power of Attorney holders shall not be allowed to repatriate outside India funds held in the NRE account under any circumstances other than to the account holder himself nor to make...

Q: Can i get loans against my NRE term deposits?

A: Yes, you can get up to 85 % of your Term deposits as loan. The maximum limit as is Rs.20 lakhs as per RBI guidelines. The loan cannot be used for the purpose of re-lending, carrying on...