What is an EEFC A/c?
A. Beneficiaries of inward remittances in convertible foreign currencies such as exporters of goods and services can open and maintain accounts in India expressed in foreign currency and titled “Exchange Earners Foreign Currency” accounts and credit to such accounts 50% of the remittances. In case of 100% Export Oriented Units, units located in Export Processing Zones or in Software Technology Parks or in Electronic Hardware Technology Parks, amounts up to 70% of the remittances can be credited to such accounts.
