Forex loans

This query is : Resolved

FLAUBERT FRANCIS (Querist)
Follow

28 September 2011 Dear Sir,

Request to explain in detail on the below mentioned caption:

"convert part of rupee loans into low-cost forex loans"

My queries are:
1.By converting rupee loans into forex loans what are the accruing benefits?

2.Is it allowed in India?

3.If YES for sl no 2,then what is the procedure and rules to follow?

4.Is it meant ONLY FOR CORPORATES OR INDIVIDUAL INDIAN CITIZENS CAN ALSO AVAIL THIS OPTION.

5.What will be the rate of interest eligibilty etc., for individuals.

Request full clarification for the above.

Thanks and regards
Francis

Vishal D Shah

Vishal D Shah (Expert)
Follow

29 September 2011 Your query is needed to be personally answered by professional as it is quite exhaustive in nature!. However to explain you the caption, foreign interest rates are much lower than Indian rates and that's primary reason for availing foreign currency loan. You can refer ecb guidelines issued by RBI.

Jagga Rao Malipeddi

Jagga Rao Malipeddi (Expert)
Follow

30 September 2011 ECB loans are not meant for individuals.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Anurag Sharma

Shraddha Pangam

J.Vijai

sachingurav

Tanishka Khandelwal

Subscribe Now

Forex loans

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANT

GST CONSULTANCY

Senior Executive

Manager- Finance and Compliance

CA Final

Accountant