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of <h1>RBI Amends FEMA 37/2001-RB: SEZ Units Can Now Credit 100% Foreign Exchange Receipts to EEFC Accounts.</h1> The Reserve Bank of India issued Notification No. FEMA 37/2001-RB, amending the Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India) Regulations, 2000. The amendment introduces special provisions for Exchange Earners' Foreign Currency (EEFC) Accounts of units in Special Economic Zones (SEZs). These units can credit up to 100% of their foreign exchange receipts to their EEFC Accounts, excluding foreign exchange acquired by purchasing against rupees from Indian residents outside SEZs. The amendment took effect immediately and modifies the applicability of certain paragraphs of the original regulations to SEZ units.
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