Exchange Earners Foreign Currency (EEFC) Account - As on Jul 05, 2016

Chapters / List

1. What is an EEFC Account and what are its benefits?

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2. Who can open an EEFC account?

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3. What are the different types of EEFC accounts? Can interest be paid on these accounts?

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4. How much of one’s foreign exchange earnings can be credited into an EEFC account?

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5. Whether EEFC Account can be opened by Special Economic Zone (SEZ) Units?

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6. Is there any Cheque facility available?

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7. What are the permissible credits into this account?

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8. Can foreign exchange earnings received through an international credit card be credited to the EEFC account?

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9. What are the permissible debits into this account?

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10. Is there any restriction on withdrawal in rupees of funds held in an EEFC account?

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11. Whether the EEFC balances can be covered against exchange risk?

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12. Whether EEFC Account is permitted to be held jointly with a resident relative?

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