Can NRIs obtain
loans for buying a house/flat for residential purpose from
financial institutions providing housing
finance?
Reserve Bank has
granted general permission to certain financial institutions
providing housing finance to grant housing loans to
non-resident Indians for acquisition of houses/flats for
self-occupation subject to certain conditions.
Can authorized
dealer grant loans to NRIs for acquisition of a flat/house for
residential purposes?
Authorized
dealers have been granted permission to grant loans to
non-resident Indian nationals for acquisition of house/flat
for self-occupation on their return to India subject to
certain conditions. However, repayment of the loan should be
made within a period not exceeding 15 years out of inward
remittance.
What are the
schemes available to NRIs for direct investments in India with
repatriation benefits?
In
the new issues of shares/convertible debentures of Indian
companies, there are direct investment schemes such as 24%
scheme/40% scheme/100% scheme.
Domestic
Mutual Funds floated by public/private sector institutions /
companies and bonds issued by public sector undertakings is
also a good option.
How can an NRI
obtain permission of Reserve Bank for investment in a sick
industrial unit?
Application
for permission should be made by the Indian company to the
Central Office of Reserve Bank in Mumbai in form
RSU.
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