Switch to normal trade: Indo Myanmar border transactions to be settled in permitted currencies under FEMA. The Reserve Bank directs termination of the barter system at the Indo Myanmar border and mandates switching to normal trade from December 1, 2015, requiring all trade with Myanmar to be settled in any permitted currency or via the Asian Clearing Union mechanism, withdraws the prior barter trade circular, instructs Authorised Dealers to inform constituents, and issues the directions under the Foreign Exchange Management Act subject to other statutory permissions.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Switch to normal trade: Indo Myanmar border transactions to be settled in permitted currencies under FEMA.
The Reserve Bank directs termination of the barter system at the Indo Myanmar border and mandates switching to normal trade from December 1, 2015, requiring all trade with Myanmar to be settled in any permitted currency or via the Asian Clearing Union mechanism, withdraws the prior barter trade circular, instructs Authorised Dealers to inform constituents, and issues the directions under the Foreign Exchange Management Act subject to other statutory permissions.
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