Special Currency Basket revision mandates authorised dealer banks to adopt updated rupee valuation and notify their constituents. The Reserve Bank of India notified a re-fix of the rupee value of the Special Currency Basket, superseding the earlier indicated figure, and directed Category I Authorised Dealer banks to adopt and communicate the revised valuation to their constituents with effect from the operative date. The circular states that these directions are issued under the Foreign Exchange Management Act and are without prejudice to any other statutory permissions or approvals.
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Provisions expressly mentioned in the judgment/order text.
Special Currency Basket revision mandates authorised dealer banks to adopt updated rupee valuation and notify their constituents.
The Reserve Bank of India notified a re-fix of the rupee value of the Special Currency Basket, superseding the earlier indicated figure, and directed Category I Authorised Dealer banks to adopt and communicate the revised valuation to their constituents with effect from the operative date. The circular states that these directions are issued under the Foreign Exchange Management Act and are without prejudice to any other statutory permissions or approvals.
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