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Who is an NRI and What is NRI Housing Loan?

Any Indian who went abroad for employment/business and has stayed more than 240 days with an intention of staying abroad for indefinite period obtains a status of a NRI and is Non-Resident Indian. 

Any loan sanctioned by Banks, Financial Institutions, Housing Finance Companies approved by National Housing Banks to NRIs for acquisition of residential accommodations subject to the terms and conditions mentioned under Foreign Exchange Management ( Borrowing or Lending in Foreign Exchange ) Regulations, 2000 – Notification No. FEMA 4/2000 – RB dated 3rd May 2000 for purpose of purchasing, constructing a house in India is a NRI Housing loan.