Special currency basket revision adjusts rupee conversion value, requiring authorised banks to update compliance and notify constituents. Revision of the special currency basket rupee value under the Deferred Payment Protocols notifies Authorised Dealer Category I banks of a revised rupee conversion value effective from the implementation date; banks must inform constituents and apply the revised conversion for relevant transactions. The direction is issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 and is without prejudice to other required permissions or approvals.
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Provisions expressly mentioned in the judgment/order text.
Special currency basket revision adjusts rupee conversion value, requiring authorised banks to update compliance and notify constituents.
Revision of the special currency basket rupee value under the Deferred Payment Protocols notifies Authorised Dealer Category I banks of a revised rupee conversion value effective from the implementation date; banks must inform constituents and apply the revised conversion for relevant transactions. The direction is issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 and is without prejudice to other required permissions or approvals.
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