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Special currency basket valuation revised; authorised dealer banks notified to adopt the new rupee conversion and update transactions accordingly. The circular revises the rupee valuation of the special currency basket under the Deferred Payment Protocols and notifies Authorised Dealer banks to adopt the new rupee conversion figure with the stated effective date; banks must inform their constituents and apply the revised valuation in relevant foreign exchange transactions. The direction is issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 and is without prejudice to other statutory permissions or approvals.
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Special currency basket valuation revised; authorised dealer banks notified to adopt the new rupee conversion and update transactions accordingly.
The circular revises the rupee valuation of the special currency basket under the Deferred Payment Protocols and notifies Authorised Dealer banks to adopt the new rupee conversion figure with the stated effective date; banks must inform their constituents and apply the revised valuation in relevant foreign exchange transactions. The direction is issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 and is without prejudice to other statutory permissions or approvals.
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