ACU – Funding of Nostro Account on ‘Tom’ basis in addition to ‘Spot’ basis

Nostro account funding on Tom basis permitted; authorised dealers must submit ACU forms to DEIO before 3pm the day prior.

Allowance for funding of Nostro dollar accounts on a Tom basis is now permitted in addition to Spot; authorised dealers must use ACU 1 for funding and ACU 2 for repatriation of excess liquidity and submit applications to the external investments department before 3.00 p.m. on the day prior to the value date. A revised Slip replaces Form ACU 1. The directions are issued under FEMA and contraventions attract statutory penalties.