EEFC - What does EEFC stand for? The Free Dictionary
References in periodicals archive
measure clearly shows RBI's intent and ability to control the market in the short and medium term, which is comforting unlike last year when they responded only late December," said Ananth Narayanan G, regional head of global markets for Standard Chartered Bank.
The RBI on May 10 issued a circular to all Authorised Dealer Category- I ( AD Category- I) banks, referring to a 2006 circular that allowed all foreign exchange earners to retain 100 per cent of their forex earnings in EEFC accounts.
While mentioning that the circular was being issued under the Foreign Exchange Management Act ( FEMA) 1999, the RBI said that " the facility of EEFC scheme is intended to enable exchange earners to save on conversion/ transaction costs while undertaking forex transactions in future.