https://www.taxtmi.com/circulars?id=2987 Exporters are permitted to earn interest on Exchange Earner's Foreign Currency (EEFC) accounts up to a specified capped outstanding balance for a temporary period. Account holders may convert balances into term deposits of up to one year maturing on or before the expiry date; interest rates are to be fixed by banks. Amendments to the governing FEMA regulations will be issued, and Authorised Dealer Category I banks must inform their constituents. The directions are issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act and do not affect other statutory permissions. en-us Sat, 06 Oct 2007 00:00:00 +0530 Mon, 06 Oct 2008 13:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=2987 Exporters are permitted to earn interest on Exchange Earner's Foreign Currency (EEFC) accounts up to a specified capped outstanding balance for a temporary period. Account holders may convert balances into term deposits of up to one year maturing on or before the expiry date; interest rates are to be fixed by banks. Amendments to the governing FEMA regulations will be issued, and Authorised Dealer Category I banks must inform their constituents. The directions are issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act and do not affect other statutory permissions. Circulars FEMA Sat, 06 Oct 2007 00:00:00 +0530 https://www.taxtmi.com/circulars?id=2987