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of <h1>RBI Eases Rules for Exchange Earner's Foreign Currency Accounts, Allows 100% Earnings Credit Under FEMA 1999.</h1> The circular issued by the Reserve Bank of India (RBI) informs all Category-I Authorized Dealer Banks about the liberalization of procedures for Exchange Earner's Foreign Currency (EEFC) Accounts. It allows foreign exchange earners to credit up to 100% of their earnings into EEFC Accounts, enhancing flexibility. The existing terms and conditions of the scheme remain unchanged. Necessary amendments to the regulations will be issued separately. Banks are instructed to inform their clients about these changes, which are issued under the Foreign Exchange Management Act, 1999. The circular outlines permissible credits and debits for EEFC accounts and clarifies miscellaneous provisions.
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