Special currency basket value revised, requiring authorised dealer banks to apply the updated rupee valuation under FEMA directives. The rupee value of the special currency basket has been revised and fixed at the updated level effective from November 19, 2008; Authorised Dealer Category I banks must implement the revised valuation and notify their constituents. The circular states that the directions are issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act and are without prejudice to permissions under other laws.
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Special currency basket value revised, requiring authorised dealer banks to apply the updated rupee valuation under FEMA directives.
The rupee value of the special currency basket has been revised and fixed at the updated level effective from November 19, 2008; Authorised Dealer Category I banks must implement the revised valuation and notify their constituents. The circular states that the directions are issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act and are without prejudice to permissions under other laws.
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