Loan from foreign country

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shailendra (Querist)
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12 June 2013 Dear Sir/Madam,

some of my friends in USA want to give money on loan to industry/new project in India. Is it possible? or any FEMA/FERA rules for that. what will be min/max money they can give to indian person.

plz advise.

shukla

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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15 June 2013 must read following links :

http://rbi.org.in/Scripts/BS_FemaNotifications.aspx?Id=157

http://www.iibf.org.in/documents/non-resident-ordy-rupee_nro_account.pdf

http://www.eximguru.com/exim/reserve-bank/foreign-exchange-control-manual/chapter-13-rupee-accounts-of-non-residents-other-than-banks.aspx

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