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Borrowing from a Foreign National or Non Resident Indian

Borrowing from a Foreign National or Non Resident Indian

CAN AN INDIAN CITIZEN BORROW FROM A FOREIGN NATIONAL OR AN NRI? Not only an individual but an Indian company can also borrow from a foreign national or a Non- resident Indian (NRI). However, these borrowings are subject to certain conditions and policies that are regulated by the Ministry of Finance and the Reserve Bank of India. The RBI is responsible for and overseas all lending and borrowing between residents of India and non- resident Indians. WHO IS A RESIDENT…

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