Special currency basket value revised under FEMA; authorised dealer banks must apply the new rupee conversion rate for settlements. Revision of the rupee value of the special currency basket for settlement under the Deferred Payment Protocols is fixed and must be applied by Category I Authorised Dealer banks from the stated operative date; banks are to notify constituents and implement the revised rate. The directions are issued under the Foreign Exchange Management Act and without prejudice to other statutory permissions or approvals.
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Special currency basket value revised under FEMA; authorised dealer banks must apply the new rupee conversion rate for settlements.
Revision of the rupee value of the special currency basket for settlement under the Deferred Payment Protocols is fixed and must be applied by Category I Authorised Dealer banks from the stated operative date; banks are to notify constituents and implement the revised rate. The directions are issued under the Foreign Exchange Management Act and without prejudice to other statutory permissions or approvals.
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