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Remittances Connected with Exports : Exporters are permitted to retain upto 25% (50% in the case of EOUs located in EPZI Software Technology Parks/Electronics Hardware Technology Parks) of the receipts from export of goods in a foreign currency account with an authorised dealer in India. This account is known as Exchange Earners Foreign Currency (EEFC) account. According to the Monetary Policy (announced on October 22, 1997), Exporters are allowed to retain 50% of their exchange earnings in the EEFC account as against the earlier 25%. The account may be maintained in any permitted currency and in any form (current, savings without cheque facility or term deposit account). The balances in these accounts may be utilised for all bonafide payments of the account holder. Exporters maintain foreign Currency Accounts are not allowed to maintain EEFC accounts.
Rate of Interest: The interest payable on pre-shipment finance is usually lower than the normal rate, provided the credit is extinguished by lodging the export bills on remittance
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PORT PROCEDURES : Export cargoes can be brought into the port only after the ship has been all owned a berth and declared for loading. Some port authorities in India require the s
list out the secondary source of informatieon while pursing the market research ?
Duty Drawback Credit Scheme: As an export promotional measure, the Government of India have authorised the Reserve Bank of India to instruct the commercial banks (Authorised Deale
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