Nri faqs

1. Can NRIs avail loans against their bank accounts in India? If yes, then for what purpose?

There are certain banks authorized by the Reserve Bank of India that are permitted to grant loan to NRIs holding NRE , NRO and FNCR accounts in India against their security of term deposits.

2. Do NRIs require the prior approval of RBI for maintaining bank accounts in India?

NRIs can open and maintain bank accounts in India without the prior permission of RBI.

3. Do NRIs require permission of the RBI to acquire residential / commercial property in India?

No permission is required by NRIs to acquire immovable property in India.

4. Are foreign nationals of Indian origin allowed to purchase immovable property in India?

Yes, foreign nationals of Indian origin, whether resident in India or abroad, have been granted general permission to purchase immovable property in India.