Section 7(f) in The Foreign Exchange Management (Borrowing And Lending In Rupees) Regulations, 2000
(f)repayment of loan shall be made from out of remittances from outside India through normal banking channels or by debit to the Non-resident Ordinary (NRO)/Non-resident Special Rupee (NRSR)/Non-resident Non-repatriable (NRNR)/Non-resident External (NRE)/Foreign Currency Non-resident (FCNR) account of the borrower or out of the sale proceeds of the shares or securities or immovable property against which such loan was granted,(C)[ for any purpose as per the loan policy laid down by the board of directors of the authorised dealer:
