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SCHEDULE I

Regulation - Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) Regulations, 2015 - [See Sub-Regulation (A) of Regulation 4] Exchange Earner's Foreign Currency (EEFC) Account Scheme 1. Limit up to which foreign currency may be credited to EEFC account (1) A person resident in India may credit to the EEFC Account with an Authorised Dealer in India 100 percent of the foreign exchange earnings as specified here under: i) inward remittance through banking chann .....

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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 authorised dealer for the purpose of counter trade, in accordance with the approval granted in terms of the Foreign Exchange Management (Export of Goods and Services) Regulations, 2015, as amended from time to time; iv) advance remittance received by a .....

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eceived in foreign exchange by an Indian startup, or any other entity as may be notified by the Reserve Bank in consultation with the Central Government, arising out of exports/ sales made by the said entity or its overseas subsidiaries, if any. Explanation: For the purpose of this schedule a startup means an entity which complies with the conditions laid down in Notification No. G.S.R 180(E), dated February 17, 2016 issued by Department of Industrial Policy and Promotion, Ministry of Commerce a .....

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unds held in the account; iii) Re-credit of unutilised foreign currency earlier withdrawn from the account; iv) Amount representing repayment by the account holder's importer customer, of loan/ advances granted in terms of clause (iv) of Paragraph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 accountholder on conversion of shares held by him to ADRs/ GDRs under the DR Scheme, 2014 approved by the Government of India 3. Permissible debits to the EEFC account Following .....

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