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What is the benefit of EEFC Account ?

by Banker : January 8, 2023 Banking HowToLeave a comment

I want to know the benefit of EEFC Account. Exchange Earners’ Foreign Currency Account (EEFC) is an account maintained in foreign currency with an Authorised Dealer Category – I bank i.e. a bank authorized to deal in foreign exchange. It is a facility provided to the foreign exchange earners, including exporters, to credit 100 per […]

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How much foreign exchange can one buy when going for tourism to a country outside India ?

by Banker : January 8, 2023 Banking HowToLeave a comment

In connection with private visits abroad, viz., for tourism purposes, etc., foreign exchange up to USD10,000, in any one calendar year may be obtained from an authorised dealer. The ceiling of USD10,000 is applicable in aggregate and foreign exchange may be obtained for one or more than one visit provided the aggregate foreign exchange availed […]