Special Currency Basket revision: AD Category I banks must apply the revised rupee valuation under FEMA directions. The circular notifies Authorised Dealer Category I banks of a revision to the Rupee value of the Special Currency Basket under the Deferred Payment Protocols, specifies the new rupee value and its effective date, directs banks to inform their constituents, and states that the directions are issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999, without prejudice to other statutory permissions.
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Special Currency Basket revision: AD Category I banks must apply the revised rupee valuation under FEMA directions.
The circular notifies Authorised Dealer Category I banks of a revision to the Rupee value of the Special Currency Basket under the Deferred Payment Protocols, specifies the new rupee value and its effective date, directs banks to inform their constituents, and states that the directions are issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999, without prejudice to other statutory permissions.
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