Ineligible Remittances and Services 3.18.1

(a) The following Foreign Exchange remittances shall not be eligible for entitlement under this scheme:

I. Remittances related to Financial Services Sector

1. Raising of all types of foreign currency Loans.

2. Export proceeds realisation of clients.

3. Issuance of Foreign Equity through ADRs /GDRs or other similar instruments.

4. Issuance of foreign currency Bonds.

5. Sale of securities and other financial instruments.

6. Other receivables not connected with the services rendered by the financial institutions.

II. Remittances earned through contract/regular employment abroad (e.g. labour remittances).

(b) Payments received from Export Earners Foreign Currency (EEFC) Account shall not be counted for benefits under the scheme.