📝 One-liners · 66 cards
CREDIT FACILITIES AGAINST EEFC BALANCE, REPAYMENT OF PACKING CREDIT FROM EEFC BALANCE, CHANGE IN RESIDENTIAL STATUS, JOINT HOLDING FACILITY, SEZ UNITS AND EEFC ACCOUNT, CHEQUE FACILITY, LATEST PRACTICAL POSITION
Can an authorized dealer grant credit facilities in rupees against EEFC account balances?
Yes, authorized dealers may grant credit facilities in Indian rupees against the balances held in EEFC accounts, subject to the usual margin requirements.
Can an authorized dealer grant foreign currency credit facilities against EEFC account balances?
Yes, foreign currency credit facilities are permissible against EEFC balances.
Is overdraft permitted against EEFC account balance for trade-related transactions?
Yes, overdraft or credit facilities can be extended against EEFC balances for genuine trade and business purposes at the discretion of the authorized dealer.
Can packing credit in foreign currency be repaid from EEFC account balance without penal interest?
Yes, repayment from EEFC balance attracts no penal interest.
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