Daily Quiz Question
An exporter withdraws ?20 lakh from his EEFC Account. After one week, the exporter wants to re-credit the same amount (converted back into USD) into the EEFC Account because the intended payment was cancelled. Should the bank permit the re-credit?
Yes, since the withdrawal was not utilised
No. Amounts withdrawn in Rupees cannot be re-credited to the EEFC Account
Yes, if the amount is re-credited within 30 days
Yes, since the withdrawal was not utilised against declaration from the account holder