EEFC account drawals exempt from general current account rules, but remain subject to restrictions for specified purposes under FEMA rules. Rule 6 exempts drawals from an Exchange Earners' Foreign Currency (EEFC) account from the restrictions of Rule 4 and Rule 5, while preserving those ... Summary
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EEFC account drawals exempt from general current account rules, but remain subject to restrictions for specified purposes under FEMA rules.
Rule 6 exempts drawals from an Exchange Earners' Foreign Currency (EEFC) account from the restrictions of Rule 4 and Rule 5, while preserving those restrictions where the drawal is made for specific purposes set out in the applicable Schedules; thus EEFC drawals are generally permitted except when used for the enumerated restricted purposes.
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