EEFC account liberalisation allows full foreign exchange earnings to be credited, expanding permissible credits and debits. The circular allows all categories of foreign exchange earners to credit up to 100 per cent of specified foreign exchange earnings to their EEFC Account, leaving other Scheme terms unchanged and noting forthcoming regulatory amendments. The Schedule specifies eligible categories and qualifying receipts (inward remittances via normal banking channels, export receipts for specified units, counter-trade receipts, advance export remittances, certain repayments, and professional earnings). Permissible credits include interest, recredits and disinvestment receipts; permissible debits cover permitted current and capital account payments, payments to specified export units, customs duties, trade loans to importer customers, and payments to residents for goods and services. Rupee withdrawals are unrestricted but not reconvertible.
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Provisions expressly mentioned in the judgment/order text.
EEFC account liberalisation allows full foreign exchange earnings to be credited, expanding permissible credits and debits.
The circular allows all categories of foreign exchange earners to credit up to 100 per cent of specified foreign exchange earnings to their EEFC Account, leaving other Scheme terms unchanged and noting forthcoming regulatory amendments. The Schedule specifies eligible categories and qualifying receipts (inward remittances via normal banking channels, export receipts for specified units, counter-trade receipts, advance export remittances, certain repayments, and professional earnings). Permissible credits include interest, recredits and disinvestment receipts; permissible debits cover permitted current and capital account payments, payments to specified export units, customs duties, trade loans to importer customers, and payments to residents for goods and services. Rupee withdrawals are unrestricted but not reconvertible.
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