Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram

TMI Blog

Home

Foreign Exchange Management (Deposit) Regulations, 2000-Loans to Non Residents / third party against security of Non Resident (External) Rupee Accounts [NR (E) RA/Foreign Currency Non Resident (Bank) Accounts [FCNR(B)] -Deposits

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... f Non Resident (External) Rupee Accounts [NR (E) RA/Foreign Currency Non Resident (Bank) Accounts [FCNR(B)] -Deposits RBI/2008-09/462 A. P. (DIR Series) Circular No. 66 April 28, 2009 To, All Category - I Authorised Dealer banks and Authorised Banks Madam/Sir, Foreign Exchange Management (Deposit) Regulations, 2000-Loans to Non Residents/third party against security of Non .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... banks were also advised not to undertake artificial slicing of the loan amount to circumvent the ceiling. 2. As announced in Para 111 of the Annual Policy Statement 2009-10, it has been decided to enhance the existing cap of Rs.20 lakh to Rs.100 lakh on loans against security of funds held in NR(E)RA and FCNR(B) deposits either to the depositors or third parties. 3. Accordingly, the banks may .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

 

 

 

 

Quick Updates:Latest Updates