14D.7
- Document type
- Manual
- Dated
- Category
- Exchange Management Manual
Transfer to Other Accounts
Funds held in the EEFC accounts will not be permitted to be sold/transferred to accounts of other residents in India. However, authorised dealers may permit, on application, transfer of funds from the EEFC account/s of the Indian tour operator/s to EEFC accounts of hotels and other establishment/s provided the tour operator confirms that the amount represents the proportionate share of the latter in relation to the services rendered to foreign tourists.