Revision of special currency basket valuation alters rupee conversion for deferred payment protocols; AD I banks to apply new rate. Revision of the rupee valuation of the special currency basket for accounting deferred payment obligations under the Deferred Payment Protocols is announced; Authorised Dealer Category I banks must adopt the revised rupee value for conversion and notify their constituents. Directions are issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 and without prejudice to other statutory permissions.
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Provisions expressly mentioned in the judgment/order text.
Revision of special currency basket valuation alters rupee conversion for deferred payment protocols; AD I banks to apply new rate.
Revision of the rupee valuation of the special currency basket for accounting deferred payment obligations under the Deferred Payment Protocols is announced; Authorised Dealer Category I banks must adopt the revised rupee value for conversion and notify their constituents. Directions are issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 and without prejudice to other statutory permissions.
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