Exchange Earners’ Foreign Currency (EEFC) Account Scheme

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..... Scheme Attention of authorised dealers is invited to the Reserve Bank Notification No. FEMA 10/2000-RB dated 3rd May, 2000. 2. EEFC Account Scheme was introduced in 1992, which enabled exporters and other exchange earners to retain a portion of their receipts in foreign exchange with an authorised dealer in India. At present a 100% Export Oriented Unit or a unit in (a) Export Processing Zone an .....

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..... l Department, Export Division, Reserve Bank of India, Central Office, Amar Building, Mumbai - 400 001 on or before 25th August 2000. ii. With effect from 14th August 2000 (a) 100% Export Oriented Unit or a unit in (a) Export Processing Zone or (b) Software Technology Park or (c) Electronic Hardware Technology Park may credit 35 per cent, and any other person resident in India may credit upto 25 .....

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..... dated April 22, 2000, authorised dealers are permitted to grant credit facilities, both fund and non-fund based, against the security of funds held in EEFC accounts. It has now been decided, that no credit facilities either fund based or non-fund based should be permitted against the security of balances held in EEFC accounts, by the authorised dealers. Existing facilities may however be allowed .....

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