Special Currency Basket revision: Rupee value adjusted; authorised banks to apply FEMA directions and notify constituents. The Reserve Bank revised the Rupee valuation of the Special Currency Basket and instructed Category I Authorised Dealer banks to apply the new value in dealings under the Deferred Payment Protocols with the erstwhile USSR, requiring banks to notify their constituents; the directions are issued under the Foreign Exchange Management Act (FEMA) and without prejudice to other legal permissions.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Special Currency Basket revision: Rupee value adjusted; authorised banks to apply FEMA directions and notify constituents.
The Reserve Bank revised the Rupee valuation of the Special Currency Basket and instructed Category I Authorised Dealer banks to apply the new value in dealings under the Deferred Payment Protocols with the erstwhile USSR, requiring banks to notify their constituents; the directions are issued under the Foreign Exchange Management Act (FEMA) and without prejudice to other legal permissions.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
