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of <h1>RBI Amends Rules: New Limits on Foreign Exchange Credits for Exporters and Professionals in EEFC Accounts</h1> The Reserve Bank of India issued the Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India) (Fourth Amendment) Regulations, 2002, effective upon publication in the official Gazette. This amendment modifies the Foreign Exchange Management Regulations, 2000, allowing specific entities and individuals to credit foreign exchange earnings into their EEFC accounts up to specified limits. These limits are 100% for status holder exporters and professionals, 70% for 100% Export Oriented Units and units in EPZs/STPs/EHTPs, and 50% for other residents. The Reserve Bank may permit higher percentages upon application. The regulation also defines 'professional' for eligibility criteria.
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