...... its quarterly monetary policy review on Tuesday, RBI has henceforth allowed credit of 100 per cent foreign exchange earnings to be kept in the EEFC accounts subject to the condition that the sum total of the accruals in the account during a calendar month should be converted into rupees on or before the last day of the succeeding calendar month after adjusting for utilisation of the balances. Presently, exporters can retain only 50 per cent of the export proceeds in EEFC accounts......
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