Special Currency Basket value revised, changing rupee conversion for deferred payment protocols under FEMA with immediate bank compliance. The Reserve Bank revised the rupee valuation of the Special Currency Basket for deferred payment protocols with the erstwhile USSR, directed Authorised Dealer Category I banks to apply the revised value from the stated effective date, and required banks to notify their constituents; the Directions are issued under the Foreign Exchange Management Act and are without prejudice to other statutory permissions.
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Special Currency Basket value revised, changing rupee conversion for deferred payment protocols under FEMA with immediate bank compliance.
The Reserve Bank revised the rupee valuation of the Special Currency Basket for deferred payment protocols with the erstwhile USSR, directed Authorised Dealer Category I banks to apply the revised value from the stated effective date, and required banks to notify their constituents; the Directions are issued under the Foreign Exchange Management Act and are without prejudice to other statutory permissions.
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