09 May 2009
An individual is seeking loan of USD 100000/- from foreign national. What is the procedure and term and conditions as to its 1. rate of interest, 2. repayment, and 3) prepayment. Whether any permission required to be taken, if yes from whom? Does it make any difference if the loan is to be availed from NRI?
10 May 2009
1.PROCEDURE IS NOT SO SHORT TO EXPLAIN HERE, YOU HAVE TO PROVIDE FURTHER INFORMATION LIKE WHETHER LENDER IS RELATIVE?PERIOD OF LOAN?ETC. 2.PERMISSION FROM RBI MAY OR MAY NOT REQUIRED DEPENDS ON UR CASE. 3.YES, DEPENDS ON UR CASE
ALL THE TRANSACTION WILL BE MADE AS PER FEMA REGULATION.YOU CAN CHECK FEMA FOR DETAIL
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