Special currency basket valuation revised, affecting deferred payment protocols; banks must apply new Rupee value and notify constituents. RBI circular revises the Rupee value of the special currency basket applicable to Deferred Payment Protocols with the erstwhile USSR, fixing the new Rupee value effective August 23, 2011. AD Category I authorised dealer banks are directed to apply the revised valuation and notify their constituents. The directions are issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 and are without prejudice to other statutory permissions or approvals.
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Special currency basket valuation revised, affecting deferred payment protocols; banks must apply new Rupee value and notify constituents.
RBI circular revises the Rupee value of the special currency basket applicable to Deferred Payment Protocols with the erstwhile USSR, fixing the new Rupee value effective August 23, 2011. AD Category I authorised dealer banks are directed to apply the revised valuation and notify their constituents. The directions are issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 and are without prejudice to other statutory permissions or approvals.
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