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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Rupee Value for Special Currency Basket Revised to Rs. 78.1657270 Effective October 28, 2015, Under FEMA Sections 10(4) & 11(1).</h1> The circular addresses Authorized Dealer Category-I banks regarding the revision of the Rupee value for the Special Currency Basket related to deferred payment protocols between India and the former USSR. Initially set at Rs. 81.3268160 as of August 27, 2015, the value was revised to Rs. 78.1657270 effective October 28, 2015. Banks are instructed to inform their relevant constituents about this change. The directions are issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999, and do not affect any other legal permissions or approvals required.
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