Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Is there any restriction on quantum of advance against NRE /FCNR (B) deposits?

deposits FCNR NRE Quantum
0
Posted

Is there any restriction on quantum of advance against NRE /FCNR (B) deposits?

0 CommentsAdd a Comment

1 Answer

0

A- Yes, Banks are prohibited from granting fresh loan or renewing loans in excess of Rupees twenty (20) lakhs against NRE and FCNR deposits either to the depositors or third parties with effect from January 31, 2007.

0 CommentsAdd a Comment

Related Questions

What is your question?

*Sadly, we had to bring back ads too. Hopefully more targeted.

Experts123