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of <h1>RBI Amends Foreign Exchange Regulations: New Limits for Crediting Earnings to EEFC Accounts for Indian Residents</h1> The Reserve Bank of India issued the Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India) (Second Amendment) Regulations, 2002, effective upon publication in the official Gazette. This amendment modifies the 2000 regulations, allowing specified entities and individuals to credit foreign exchange earnings to their EEFC accounts up to certain limits: 100% for Status Holder Exporters, 70% for 100% Export Oriented Units and similar entities, and 50% for other residents. The Reserve Bank may permit higher percentages upon application. Additionally, a proviso in sub-paragraph (1A) is deleted.
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