14D.9
- Document type
- Manual
- Dated
- Category
- Exchange Management Manual
Facilities against the Security of Deposits
Credit facilities whether fund based or non fund based, in rupees or in foreign exchange, may be granted either in India or abroad, against the security of funds held in the EEFC accounts. The repayment of such credit facilities should be made out of the balance in the EEFC account of the concerned depositor. The facility should be used for normal business purposes only and not for any on-lending or for investment in shares, securities, etc.