RBI Circular allowing SEZ Devleoper to maintain EEFC Account

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..... ttention of Authorised Dealer Category -I (AD Category-I) banks is invited to Regulation 4 of Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) Regulations, 2000 notified vide Notification no. FEMA 10/ 2000- RB dated May 3, 2000 , as amended from time to time, in terms of which a person resident in India is permitted to open, hold and maintain with an Autho .....

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..... rs are allowed to credit up to 100 per cent of their foreign exchange earnings, as specified in the paragraph 1 (A) of the Schedule, to their EEFC Account. As such, it will be in order for the Authorised Dealers to allow SEZ developers to open, hold and maintain EEFC Account and to credit up to 100 per cent of their foreign exchange earnings, as specified in the paragraph 1 (A) of the Schedule. .....

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