Razorpay Introduces Multi-Currency EEFC Settlement Facility for Exporters

Exam-focused facts from the 25 August 2026 current affairs briefing.

Key facts

On August 20, 2026, Razorpay launched the Multi-Currency Exchange Earners' Foreign Currency (EEFC) Account for exporters and international businesses.
The facility enables merchants to receive payment settlements directly into their EEFC accounts in the original transaction currency, without mandatory conversion into Indian Rupees (INR).
Settlements are supported in US Dollar (USD), Euro (EUR), British Pound (GBP), UAE Dirham (AED), and Singapore Dollar (SGD) through Razorpay's banking partner ecosystem.
The Multi-Currency EEFC Account reduces foreign exchange leakage by eliminating multiple conversion cycles and gives businesses control over when to convert foreign currency.
Exporters can access the EEFC settlement facility without separate onboarding or changes to their existing payment setup.