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        FEMA

        Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India)(Second Amendment) Regulations, 2002 - 058/2002 - Foreign Exchange Management

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        Foreign exchange account limits updated: revised EEFC crediting percentages and RBI discretion to permit higher holdings. Amendment replaces percentage ceilings for crediting foreign exchange to EEFC Accounts, specifying full allowance for Status Holder Exporters, reduced allowances for 100% EOUs and notified park units, and a lower allowance for other residents; it empowers the Reserve Bank to permit higher holdings on application and inserts a specification of qualifying foreign exchange earnings while deleting a proviso from the new sub paragraph.
                          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.

                                Foreign exchange account limits updated: revised EEFC crediting percentages and RBI discretion to permit higher holdings.

                                Amendment replaces percentage ceilings for crediting foreign exchange to EEFC Accounts, specifying full allowance for Status Holder Exporters, reduced allowances for 100% EOUs and notified park units, and a lower allowance for other residents; it empowers the Reserve Bank to permit higher holdings on application and inserts a specification of qualifying foreign exchange earnings while deleting a proviso from the new sub paragraph.


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