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Exchange Earner's Foreign Currency (EEFC) Account,
RBI Circular Dated July 31, 2012 |
Dear Valued Customer,
We refer to the RBI Circular no. RBI/2012-13/151 A. P. (DIR Series) Circular No. 12 Dated - July 31, 2012. As per the above
mentioned circular, RBI has now reset the earlier guidelines on EEFC credits. |
| Salient features of the circular |
| Effective 1st August 2012, the earlier stipulation has been restored, permitting credit of 100% foreign exchange earnings to
the EEFC account subject to |
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The condition that the sum total of the accruals in the account during a calendar month be converted into |
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Rupees on or
before the last day of the succeeding calendar month after adjusting for utilization of the balances for approved
purposes or forward commitments |
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Effectively, balances outstanding in an EEFC account as on July 31, 2012 and those balances that would accrue in the
account with effect from August 1, 2012 shall get converted to Rupee balances on or before close of business on September
30, 2012. Similar procedure will be followed for accruals during the
subsequent months.
The above stipulations would also apply to RFC (Domestic) and Diamond Dollar accounts.
Please note the below for the conversion to Rupee balances on or before close of business on September 30, 2012
and for accruals during subsequent months: |
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If you have given a standing instruction to the bank, the credits will be applied in accordance to the |
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standing instruction furnished at the prevailing exchange rates |
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Alternatively if standing instructions are not in place, bank shall be crediting the rupee account you hold |
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with the bank at
the prevailing exchange rates. In absence of rupee account held with the Bank you shall receive a pay order/cheque of
the amount |
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| For further information: |
| If you require any further clarifications, kindly contact us at our Phone banking numbers given below or write to us at
Customer.Care@sc.com |
| Yours Sincerely, |
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Rajeev Chalisgaonkar
Head - SME Banking, South Asia |
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Visit Us: www.standardchartered.co.in Write to Us: sme.customercare@sc.com
You can write to us for any further queries at Standard Chartered Bank, Customer Care Unit, 19, Rajaji Salai, Chennai – 600 001 |
| Phone Banking Numbers: |
| Allahabad, Amritsar, Bhopal, Bhubaneswar, Chandigarh, Cochin / Ernakulum, Coimbatore, Indore,
Jaipur, Jalandhar, Kanpur, Lucknow, Ludhiana, Nagpur, Patna , Rajkot, Surat, Vadodara |
3940161 / 6601161 |
| Ahmedabad, Bangalore, Chennai, Delhi, Hyderabad, Kolkata, Mumbai, Pune |
39401616 / 66011616 |
| Gurgaon, Noida |
011 - 39401616 / 011 – 66011616 |
| Jalgaon, Guwahati, Cuttack, Mysore, Thiruvananthpuram, Vishakhapatnam, Proddatur, Dehradun,
Mathura, Saharanpur, Siliguri |
1800 – 425 - 0109, 1800 – 3000 -1616 |
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| SMS us : |
SMS "Service" to 9980033333 and we will provide assistance to you within 24 hours.
The bank assures to pay  100, on failure of establishing contact within 24 hours*. (*Terms and Conditions apply)
In case of unresolved grievances email us at:head.service@sc.com |
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