Special Currency Basket value revised under FEMA directives; authorised dealer banks must implement change and notify constituents. The Reserve Bank of India notified a revised Rupee value for the Special Currency Basket to be used in transactions under the Deferred Payment Protocols between India and the erstwhile USSR, directed Authorised Dealer Category I banks to apply the revised value and to inform their constituents, and stated the directions are issued under FEMA and without prejudice to other statutory permissions.
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Special Currency Basket value revised under FEMA directives; authorised dealer banks must implement change and notify constituents.
The Reserve Bank of India notified a revised Rupee value for the Special Currency Basket to be used in transactions under the Deferred Payment Protocols between India and the erstwhile USSR, directed Authorised Dealer Category I banks to apply the revised value and to inform their constituents, and stated the directions are issued under FEMA and without prejudice to other statutory permissions.
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