Exchange Earners’ Foreign Currency (EEFC) Account Scheme

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..... Currency (EEFC) Account Scheme Attention of authorised dealers is invited to the Reserve Bank Notification No. FEMA 10/2000-RB dated 3 rd 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 .....

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..... ef General Manager, Exchange Control Department, Export Division, Reserve Bank of India, Central Office, Amar Building, Mumbai - 400 001 on or before 25 th August 2000. ii. With effect from 14 th 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 pers .....

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..... 999 read with AD(MA Series) Circular No. 5 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. E .....

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