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Exchange Earners' Foreign Currency(EEFC) Account Scheme – Trade Related Loans/Advances

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Full Text of the Document

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....reign Exchange Dear Sirs/Madam, Exchange Earners' Foreign Currency(EEFC) Account Scheme - Trade Related Loans/Advances Attention of Authorised Dealers is invited to A.P.(DIR Series) Circulars Nos.78 and 104 dated February 14, 2003 and May 31, 2003 in terms of which, exporters have been permitted to grant trade related loans / advances from their EEFC Account to their overseas importer customer ....

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Full Text of the Document

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....d loan / advance by exporter out of his EEFC Account exceeds USD 1,00,000. 3. The reporting requirement will continue as per A.P. (DIR Series) Circular 78 dated February 14, 2003. 4. The necessary amendment to the Foreign Exchange Management Act (Borrowing or Lending in Foreign Exchange) Regulations,2000 has been issued vide Notification No.FEMA 112/2004-RB dated March 6,2004 (copy enclosed). 5....

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