Special currency basket value revision notified; banks must adopt the updated rupee valuation under FEMA directions. Revision of the special currency basket rupee value was notified to Authorised Dealer Category I banks, effective May 23, 2008, replacing the earlier indicated valuation; banks are directed to inform their constituents. The directions are issued under the Foreign Exchange Management Act, 1999 and are without prejudice to permissions under other laws.
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Provisions expressly mentioned in the judgment/order text.
Special currency basket value revision notified; banks must adopt the updated rupee valuation under FEMA directions.
Revision of the special currency basket rupee value was notified to Authorised Dealer Category I banks, effective May 23, 2008, replacing the earlier indicated valuation; banks are directed to inform their constituents. The directions are issued under the Foreign Exchange Management Act, 1999 and are without prejudice to permissions under other laws.
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