Special Currency Basket valuation revised, requiring authorised dealer banks to adopt the new rupee conversion and notify constituents accordingly. The Reserve Bank revised and fixed the rupee value of the Special Currency Basket effective in early July 2012, replacing the previously indicated value, for use in conversion and settlement under the Deferred Payment Protocols. Authorised Dealer Category I 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, without prejudice to other legal permissions.
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Special Currency Basket valuation revised, requiring authorised dealer banks to adopt the new rupee conversion and notify constituents accordingly.
The Reserve Bank revised and fixed the rupee value of the Special Currency Basket effective in early July 2012, replacing the previously indicated value, for use in conversion and settlement under the Deferred Payment Protocols. Authorised Dealer Category I 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, without prejudice to other legal permissions.
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