| Query : |
Hi every one,
I wonder some help me in understanding,
What want to DO: I want to invest in a real estate in India.
Where am I: I am NRI and out of india now over seven years.
Where am I: I am in USA since 18 months.
Personal Banking: I could not open a NRI account till now, I am serious of opening now.
FCNR : I would like to deposit say 20000 US Dollars in Indian Bank ( SBI )
Here comes my question.
If I invest in Building apartments in Hyderabad say Rs 50 Lakhs
Can Invest money in FCNR and Borrow loans on deposits for purpose of Business/investment against deposit?
If I do Can I pay loan in Indian rupees and still my deposit are in US Dollars.
Can I convert profits on Indian investments in US?
Or least Can have interest earned is depoisted in US Dollars.
Thanks for any answers in complete or parts.
|
