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Daily Archives: August 15, 2021

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Rupee loan to an NRI/PIO by a resident individual

Foreign ExchangeBy Surendra NaikAugust 15, 2021

A resident individual is permitted to make a rupee loan to an NRI/PIO who is a close relative of the resident individual (‘relative’ as defined in Section 2(77) of the Companies Act, 2013 by way of crossed cheque/ electronic transfer subject to the following conditions: The loan amount shall be within LSR limit of USD…

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