13B.11
- Document type
- Manual
- Dated
- Category
- Exchange Management Manual
Loans/Overdrafts to NRE Account Holders outside India
Authorised dealers may allow their overseas branches/correspondents to grant any type of fund based and/or non-fund based facilities to or in favour of non-resident depositor or to third parties at the request of the depositor for bona fide purpose against the security of funds held in the NRE Accounts in India. Authorised dealers may also agree to remittance of the funds from India, if necessary, for liquidation of the outstandings, subject to report to Reserve Bank.