Borrowing & Lending
in Rupees and Forex
Points to Remember:
A person resident in India can borrow in INR from NRIs/ PIOs on non-repatriation basis only.
A RI can grant loan to NRI close relative within the overall limit under LRS per FY available for a RI. It would be the responsibility of the lender to ensure that the amount of loan is within the limits prescribed under LRS during the FY.