Q21. How can a NRI/PIO/OCI make payment for purchase of residential / commercial property in India?

Payment can be made by NRI/PIO/OCI out of:

  • funds remitted to India through normal banking channels or
  • funds held in NRE / FCNR (B) / NRO account maintained in India
  • Loan from a Financial Institution in India
  • No payment can be made either by traveller’s cheque or by foreign currency notes or by other mode except those specifically mentioned above.