EEFC accounts permit residents to retain eligible foreign exchange earnings while prescribing credits, debits, withdrawals, and joint-holder restrictions.
EEFC accounts permit residents to credit eligible foreign exchange earnings, including qualifying remittances, export-related receipts, professional earnings, and specified startup export or sales proceeds. Permissible credits also include interest, re-credit of unutilised foreign currency, eligible loan repayments, and certain depository receipt disinvestment proceeds. Debits may be made for permissible overseas transactions, specified purchases, customs duty, compliant trade advances, and foreign-exchange payments for goods or services. Rupee withdrawals are unrestricted but cannot be re-credited.
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