Exchange Earner's Foreign Currency (EEFC) Account Scheme

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....nce received pursuant to any undertaking given to the Reserve Bank or which represents foreign currency loan raised or investment received from outside India or those received for meeting specific obligations by the account holder; (ii) payments received in foreign exchange by a 100 per cent Export Oriented Unit or a unit in (a) Export Processing Zone or (b) Software Technology Park or (c) Electronic Hardware Technology Park for supply of goods to similar such unit or to a unit in Domestic Tariff Area and also payments received in foreign exchange by a unit in Domestic Tariff Area for supply of goods to a unit in Special Economic Zone (SEZ); (iii) payments received by an exporter from an account maintained with an authoris....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....emittance through banking channels. 2. Permissible credits to EEFC account Following credits may be made to an EEFC Account, namely - (i) Inward remittance/ payment received by the recipient in foreign exchange subject to the provisions of paragraph (1); (ii) Interest earned on the funds held in the account; (iii) Re-credit of unutilised foreign currency earlier withdrawn from the account; (iv) Amount representing repayment by the account holder's importer customer, of loan/ advances granted in terms of clause (iv) of Paragraph 3. (v) Representing the disinvestment proceeds received by the resident account-holder on conversion of shares held by him to ADRs/ GDRs under the DR Scheme, 201....