Can NRI buy stocks in India?
Yes, NRIs can lend money to resident Indians and Indian companies, subject to strict conditions under the Foreign Exchange Management Act (FEMA). For loans to individuals, the transaction must be made through banking channels (NRE/NRO/FCNR accounts), cannot be in cash, and the interest rate cannot exceed 2% above the prevailing RBI Bank Rate. Repayment must also be made into the lender's NRO account, and the funds are generally not directly repatriable outside India.
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