A Non-Resident Indian is an Indian who stays abroad for employment/carrying on business activities or someone who is staying under circumstances indicating an intention for an uncertain duration of stay abroad is a non-resident. If an Indian citizen stays outside the India for 182 days, he/she becomes an NRI.
The payment of the purchase should be made out of the funds received in India through the financial options made available by the Indian banks by way of inward remittance from any place outside India.
Funds which are held in a non-resident account. In this case, the account should be maintained in accordance with the provisions of the Act and the regulations made by the Reserve Bank.
Yes. The housing loan of an NRI or a PIO can be repaid by his/her close Indian relatives.