T&C under FEMA regulations:
📌 The loan should be free of interest and the minimum maturity of the loan should be one year.
📌 The loan amount should be within the overall limit under the Liberalised Remittance Scheme per financial year.
📌 Repayment of loan shall be made by way of inward remittances from outside India or by debit to the NRO / NRE / FCNR(B) account of the borrower or out of the sale proceeds of securities or properties against which such loan was granted.
Find more at ☎️ https://fema.ozg.in
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