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of <h1>Indian residents can open Exchange Earner's Foreign Currency Accounts with authorized dealers under Regulation 4 FEMA 2000</h1> Regulation 4 of FEMA 2000 permits Indian residents to open, hold and maintain Exchange Earner's Foreign Currency Accounts with authorized dealers in India. These EEFC accounts must comply with terms and conditions specified in Schedule-I of the Exchange Earners' Foreign Currency Account Scheme. The regulation was amended in 2011 to update the schedule reference from 'Schedule' to 'Schedule-I.'
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