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          FEMA

          What are the different types of EEFC accounts? Can interest be paid on these accounts?

          Exchange Earners Foreign Currency (EEFC) Account - As on Jul 05, 2016

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          Exchange Earner Foreign Currency accounts are maintained only as current accounts and are not eligible for interest. Exchange Earners Foreign Currency accounts may be maintained only as a current account, and balances in such accounts are not payable interest, establishing an account-type limitation and a prohibition on interest payments.
                            Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                              Provisions expressly mentioned in the judgment/order text.

                                  Exchange Earner Foreign Currency accounts are maintained only as current accounts and are not eligible for interest.

                                  Exchange Earners Foreign Currency accounts may be maintained only as a current account, and balances in such accounts are not payable interest, establishing an account-type limitation and a prohibition on interest payments.


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