Indian companies may grant loans in foreign exchange to the employees of their branches outside India for personal purposes provided that the loan shall be granted for personal purposes in accordance with the lender’s Staff Welfare Scheme / Loan Rules and other terms and conditions as applicable to its staff resident …
Can Indian banks lend to foreign companies?
On Thursday, RBI said that banks can extend loan to overseas subsidiaries of Indian corporates but they have to make 2% of the loan amount as provision on such loans. For all other standard loans bank are required to set aside just 0.40% of the loan amount .
Can Indian holding company give loan to foreign subsidiary?
Under the applicable law, an Indian subsidiary can raise debt from its foreign shareholder by way of external commercial borrowings (ECBs). … However, this ratio is not applicable if the total of all ECBs raised by an Indian entity is up to US$5 million or equivalent.
Can OCI take loan India?
Individuals eligible for an NRI Home Loan
Profiles – Non Resident Indian (NRI), Person of Indian origin (PIO), Overseas Citizen of India (OCI), except Citizens of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal, or Bhutan. Age – Minimum age of the applicant should be 24 years.
Can I take loan from foreign?
The terms and conditions are prescribed under the Foreign Exchange Management (Borrowing and Lending) Regulations, 2018, for borrowing in foreign currency from NRIs/PIOs. However, a loan from a foreign national in favour of an Indian citizen under the automatic route may not be possible.
In which schedule amount borrowed from bank in India and outside India is shown?
Borrowings in Foreign Exchange under the Approval Route
(1) The borrowing in foreign currency (other than the borrowings under Schedule I) by a person resident in India may be made under any of the types set out in this Schedule.
Is section 186 applicable to private companies?
Section 186 of the Companies Act, 2013 also states that a company cannot directly or indirectly: Give loan to any person or body person, Give any security or provide a guarantee in connection with a loan to any other person or body corporate, … of its free reserves and securities premium account, whichever is more.
Can a company take loan from foreign company?
Companies involved in agriculture activities, real estate business and chit funds cannot take a loan from foreign companies. Limited Liability partnerships are also allowed to borrow loans from foreign companies. Borrowing can be done only through public offer of non convertible debentures.
Does section 185 apply to private companies?
Does section 185 apply to private companies? As per Exemption notification issued by MCA on 05th June, 2015, Section 185 shall not applicable on Private Limited Companies, if It fulfil the conditions mentioned therein.
Can OCI get Aadhar card?
Aadhaar Card enrollment is presently available to residents in India. OCI Cardholders who stay in India for a long time (over 182 days in twelve months immediately preceding the date of application for enrolment) and have an Indian address can also enroll for Aadhaar Card in India.
Is OCI card lifelong?
OCI card holders are required to get their OCI cards reissued whenever passport is renewed for persons under twenty years of age, and OCI card needs to be renewed after crossing 50 years of age only once, that too when the US passport is renewed.
Can I buy property in India with OCI?
OCI card holders can purchase residential and commercial properties in India. … A foreign national of non-Indian origin, resident outside India cannot purchase any immovable property in India unless such property is acquired by way of inheritance from a person who was resident in India.