Razorpay Launches Multi-Currency EEFC Account | Razorpay ने Multi-Currency EEFC Account Launch किया
English: Razorpay launched a Multi-Currency Exchange Earners' Foreign Currency, or EEFC, Account solution on 24 August 2026. The facility allows Indian exporters to receive international payments directly in selected foreign currencies instead of converting every incoming payment immediately into Indian rupees. The development is significant for export-oriented businesses because repeated currency conversion can create additional costs and expose firms to foreign-exchange fluctuations.
हिंदी: Razorpay ने 24 August 2026 को Multi-Currency Exchange Earners' Foreign Currency यानी EEFC Account solution launch किया। Facility Indian exporters को selected foreign currencies में international payments directly receive करने की सुविधा देती है, जिससे हर incoming payment को immediately Indian Rupees में convert करना जरूरी नहीं होता। Export-oriented businesses के लिए यह महत्वपूर्ण है क्योंकि repeated currency conversion additional costs और foreign-exchange fluctuations का exposure create कर सकती है।
Supported Currencies | Supported Currencies
English: Testbook reported that exporters can receive settlements in five major currencies: US dollar, euro, British pound, UAE dirham and Singapore dollar. These currencies are widely used in global trade, technology services and cross-border business transactions.
हिंदी: Testbook के अनुसार exporters five major currencies—US Dollar, Euro, British Pound, UAE Dirham और Singapore Dollar—में settlements receive कर सकते हैं। ये currencies global trade, technology services और cross-border transactions में widely used हैं।
What is an EEFC Account? | EEFC Account क्या है?
English: EEFC stands for Exchange Earners' Foreign Currency. It is a facility permitted under India's foreign-exchange regulatory framework that allows eligible foreign-exchange earners to retain their earnings in foreign currency in an account maintained with an authorised bank. This can be useful for businesses that also have expenses payable in foreign currencies.
हिंदी: EEFC का full form Exchange Earners' Foreign Currency है। यह India's foreign-exchange regulatory framework के तहत permitted facility है जो eligible foreign-exchange earners को authorised bank में maintained account में अपनी earnings foreign currency में retain करने की अनुमति देती है। यह उन businesses के लिए useful है जिन्हें foreign currencies में expenses भी pay करने होते हैं।
100% Foreign Exchange Earnings | 100% Foreign Exchange Earnings
English: Testbook notes that eligible earners can credit up to 100% of permitted foreign-exchange earnings into an EEFC account. The facility is administered through Authorised Dealer Category-I banks under the Reserve Bank of India's regulatory framework.
हिंदी: Testbook के अनुसार eligible earners permitted foreign-exchange earnings का up to 100% EEFC account में credit कर सकते हैं। Facility Reserve Bank of India के regulatory framework के तहत Authorised Dealer Category-I banks के माध्यम से operate करती है।
Reduction in FX Conversion Costs | FX Conversion Costs में कमी
English: Suppose an exporter receives dollars from a foreign customer and later needs dollars to pay for software, raw materials or overseas services. If the incoming dollars are first converted into rupees and later rupees are converted back into dollars, the business may incur conversion charges and exchange-rate spreads twice. Retaining eligible foreign-currency earnings can reduce such repetitive conversion cycles.
हिंदी: यदि exporter foreign customer से Dollars receive करता है और बाद में software, raw materials या overseas services के लिए Dollars में payment करना है, तो incoming Dollars को पहले Rupees में convert करके और बाद में फिर Dollars purchase करने पर conversion charges तथा exchange-rate spreads दो बार incur हो सकते हैं। Eligible earnings को foreign currency में retain करने से ऐसे repetitive conversion cycles reduce हो सकते हैं।
Integration with Razorpay Dashboard | Razorpay Dashboard से Integration
English: The new facility is integrated with Razorpay's existing dashboard and settlement engine. Testbook reports that merchants do not require separate onboarding or an additional platform setup for using the solution, which can simplify cross-border payment management.
हिंदी: New facility Razorpay के existing dashboard और settlement engine के साथ integrated है। Testbook के अनुसार merchants को solution use करने के लिए separate onboarding या additional platform setup की आवश्यकता नहीं है, जिससे cross-border payment management simplify हो सकती है।
Importance for Indian Exporters | Indian Exporters के लिए महत्व
English: India's service exporters, software firms, freelancers, e-commerce businesses and other companies increasingly receive payments from multiple overseas markets. Efficient settlement systems can reduce friction, improve working-capital management and make international transactions easier for smaller businesses.
हिंदी: India's service exporters, software firms, freelancers, e-commerce businesses और other companies increasingly multiple overseas markets से payments receive करती हैं। Efficient settlement systems transaction friction reduce कर सकते हैं, working-capital management improve कर सकते हैं और smaller businesses के लिए international transactions आसान बना सकते हैं।
Role of RBI in Foreign Exchange | Foreign Exchange में RBI की भूमिका
English: The Reserve Bank of India regulates foreign-exchange transactions under India's legal and regulatory framework. Foreign exchange is also governed through the Foreign Exchange Management Act, 1999, commonly known as FEMA. FEMA replaced the earlier Foreign Exchange Regulation Act.
हिंदी: Reserve Bank of India India's legal और regulatory framework के तहत foreign-exchange transactions regulate करता है। Foreign exchange को Foreign Exchange Management Act, 1999 यानी FEMA के माध्यम से भी govern किया जाता है। FEMA ने earlier Foreign Exchange Regulation Act को replace किया था।
About Razorpay | Razorpay के बारे में
English: Razorpay was founded in 2014 and is headquartered in Bengaluru. It operates as a payments and financial-technology platform serving businesses with online and omnichannel payment solutions.
हिंदी: Razorpay की establishment 2014 में हुई और इसका headquarters Bengaluru में है। यह businesses को online और omnichannel payment solutions provide करने वाला payments और financial-technology platform है।
Important Points for Exams | परीक्षा के लिए महत्वपूर्ण तथ्य
- Razorpay launched the Multi-Currency EEFC Account on 24 August 2026. | Razorpay ने Multi-Currency EEFC Account 24 August 2026 को launch किया।
- EEFC stands for Exchange Earners' Foreign Currency. | EEFC का full form Exchange Earners' Foreign Currency है।
- The supported currencies include USD, EUR, GBP, AED and SGD. | Supported currencies में USD, EUR, GBP, AED और SGD शामिल हैं।
- EEFC accounts are maintained through Authorised Dealer Category-I banks. | EEFC accounts Authorised Dealer Category-I banks के माध्यम से maintained होते हैं।
- The facility can reduce repeated foreign-exchange conversions. | Facility repeated foreign-exchange conversions reduce कर सकती है।
- Razorpay was established in 2014. | Razorpay की establishment 2014 में हुई।
- Razorpay is headquartered in Bengaluru. | Razorpay का headquarters Bengaluru में है।
- FEMA was enacted in 1999. | FEMA 1999 में enact हुआ।