Forex earning professionals! Golden opportunity to retain your 100% forex earnings in India

Now we are pleased to offer an exclusive service to the Professionals, such as, scientists,professors of Indian universities/Institutions, economists, lawyers,
doctors, architects, engineers, consultants, cost/chartered accountants ,
Directors on Boards of overseas companies e.t.c earning Forex for their services through our branches.

At present, Foreign Exchange earners are permitted to keep a portion of their earnings in foreign exchange
itself to meet their forex requirements.

Reserve Bank of India has recently announced that the foreign exchange earning professionals can keep 100% of their forex earnings in convertible currency in the form of foreign exchange itself under Exchange
Earners Foreign Currency (EEFC) Account Scheme.

The account will be maintained in the form of Current Account. Cheque Book shall be issued with the
superscription "EEFC Account" and cheques issued in foreign currency for permissible transactions,
shall be honoured on presentation Subject to completion of certain formalities. The account will be
maintained free of cost and no fee will be charged for inward and outward remittances. Travellers Cheques
for foreign travel shall be issued free of commission. Conversion to Indian Rupee shall be done at the best
ongoing rate.

Permissible Debits

i.Payment outside India towards a current account transaction in accordance with the provisions of the
Foreign Exchange Management (Current Account Transactions) Rules, 2000 and towards a capital
Account transaction permissible under the Foreign Exchange Management (Permissible Capital
Account Transactions) Regulations, 2000.

ii.Payment in foreign exchange towards cost of goods purchased from a 100 percent Export Oriented
Unit or a Unit in (a) Export Processing Zone or (b) Software Technology Park or (c) Electronic
Hardware Technology park.

iii.Payment of customs duty in accordance with the provisions of Export Import Policy of
Central Government for the time being in force.

iv.Payment in foreign exchange to a person resident in India for supply of goods/services including
payments for air fare and hotel expenditure.

Any further enquiries you are welcome to contact us through
Phone - , 8571181 (International Division)
E-Mail - cm-id
Contact person - Mr.G. Rengarajan,Mr.G. Suresh