Non Resident Indian Can Borrow or Lend to Close Relative !

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NRIThe lending and borrowing facilities are given to non resident Indians by the Reserve Bank of India. However, the lending and borrowing by an NRI is limited to “close relatives” of the NRI. The meaning of close relative is also explained to have same meaning as given for Relative in section 6 of the Companies ActAs per this, the Meaning of “relative” is defined as under.

This content is for annual and Semi Annual members only.

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