Settlement in freely convertible currency permitted for Indo Myanmar trade, alongside ACU routing, altering trade payment options. Trade transactions with Myanmar may be settled in any freely convertible currency in addition to the ACU mechanism. Authorised Dealer banks are to notify constituents; amendments to the Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2000 will follow. The direction is issued under the Foreign Exchange Management Act and is without prejudice to other statutory permissions or approvals.
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.
Settlement in freely convertible currency permitted for Indo Myanmar trade, alongside ACU routing, altering trade payment options.
Trade transactions with Myanmar may be settled in any freely convertible currency in addition to the ACU mechanism. Authorised Dealer banks are to notify constituents; amendments to the Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2000 will follow. The direction is issued under the Foreign Exchange Management Act and is without prejudice to other statutory permissions or approvals.
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