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of <h1>Foreign Exchange Earners, Including SEZ Developers, Can Fully Utilize EEFC Accounts Under FEMA 1999 Regulations.</h1> The circular clarifies that all categories of foreign exchange earners, including Special Economic Zone (SEZ) developers, are permitted to open, hold, and maintain Exchange Earner's Foreign Currency (EEFC) Accounts. These earners can credit up to 100% of their foreign exchange earnings to their EEFC Accounts, as outlined in the relevant regulations and schedule. Authorized Dealer Category-I banks are instructed to inform their clients about this provision. The directions are issued under the Foreign Exchange Management Act (FEMA), 1999, and do not override any other legal permissions or approvals required.
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