Special currency basket valuation revised, requiring banks to apply updated rupee conversion rates for deferred payment arrangements. AD Category I banks are notified of successive revisions to the rupee valuation of the special currency basket applicable to Deferred Payment Protocols; banks must apply the revised rupee values with the specified effective dates, inform their constituents, and note that these directions are issued under the Foreign Exchange Management Act, 1999 and without prejudice to other legal permissions or approvals.
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Provisions expressly mentioned in the judgment/order text.
Special currency basket valuation revised, requiring banks to apply updated rupee conversion rates for deferred payment arrangements.
AD Category I banks are notified of successive revisions to the rupee valuation of the special currency basket applicable to Deferred Payment Protocols; banks must apply the revised rupee values with the specified effective dates, inform their constituents, and note that these directions are issued under the Foreign Exchange Management Act, 1999 and without prejudice to other legal permissions or approvals.
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