NRI Services

General

According to Indian Foreign Exchange Regulation Act (formulated in 1973) Non Residential Indians include:-

People who primarily are Indian Citizens but stay abroad either for employment/business/vocation or any other purpose indicating uncertain period of their stay abroad.
People who are Indian Government employees and are posted in a foreign country and who draw their salaries from Indian Government.
People who are Indian Government employees and are posted abroad for assignments with foreign government.
People who are Indian Citizens and work in international agencies like World Bank, WHO etc.
People who are State Government employees and are posted abroad for short-term assignments or who work in foreign-located branch offices of Indian govt. offices.

Foreign citizen of Indian origin are people:-

Who have held an Indian Passport at any time in their lives.
Whose father or forefathers were/are Indian citizens according to Indian citizenship act.
Note: this does not apply to citizens of countries like Nepal, Bhutan, China, Pakistan, Afghanistan or Figi etc.

No, it is not necessary for them to obtain any consent before acquiring any immovable property in India. However, it becomes necessary while buying agricultural/plantation property or a farm house.

They can and should be met either out of inward remittances in foreign exchange through normal banking channels or out of funds from any non resident accounts maintained with banks in India.

No, there are no restrictions as such however, repatriation is allowed only for two of such properties.

If a person who resides outside India wishes to buy an agricultural land, plantation property or a farm house etc then the person has to make request to the Chief General Manager, Reserve Bank of India, Central Office, Exchange Control Department, Foreign Investment Division (III), Mumbai 400 001. Only then, this can proceed further.

Yes, RBI has granted a general permission for sale of such property. But if there is another NRI who is buying the property then funds of purchase should either be remitted to India or paid out of balances in NRI's account which is maintained with Indian banks.

Yes, they can rent their properties and rental income can be repatriable outside India if the due tax on it is paid religiously.

Loans

Yes, there are set of guidelines for sanctioning house loans to NRI's:-

Loan amount cannot be more than 85% of total cost of property.
Down payment can be done from direct remittances from abroad only through normal banking channels.
Repayment of the loan should be done from abroad only through normal banking channels.

Yes, they are allowed to however, repayment of the loan amount should be made within a period of 15 years via banking channels.