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of <h1>EEFC Account Drawals Exempt from Rules 4 and 5, with Exceptions for Specific Transactions Under Rule 6.</h1> Rule 6 of the Foreign Exchange Management (Current Account Transaction) Rules, 2000, states that drawals from an Exchange Earners' Foreign Currency (EEFC) account are exempt from rules 4 and 5, except in specific cases. Rule 4 covers transactions requiring prior approval from the Central Government. Certain drawals related to items in Schedule III, such as membership remittances for P&I Clubs requiring approval from the Ministry of Finance, are exceptions. The requirement for approval for some items in Schedule III was omitted as of May 26, 2015.
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