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Can NRIs avail loan facility from financial institutions in India?

avail facility financial institutions India loan NRIs
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Can NRIs avail loan facility from financial institutions in India?

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Ans] There are certain financial institutions approved by RBI providing loan facility for NRIs, though are subjected to certain conditions – the loan borrower should be in a financial standing to bear at least 25% of the total cost, paid out of inward remittance in foreign exchange through normal banking channels or out of funds held in his NRE/FCNR accounts.

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There are certain financial institutions approved by RBI providing loan facility for NRIs, though these are subjected to certain conditions – the loan borrower should be in a financial standing to bear at least 25% of the total cost, paid out of inward remittance in foreign exchange through normal banking channels or out of funds held in his NRE/FCNR accounts.

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