Special currency basket valuation revised; banks must implement and notify constituents under foreign exchange directions. The rupee value of the special currency basket under the Deferred Payment Protocols has been revised and fixed with effect from December 23, 2008 following a further revision on December 18, 2008; Authorised Dealer Category-I banks are directed to notify their constituents and implement the change. The directions are issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 and are without prejudice to other statutory permissions or approvals.
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Special currency basket valuation revised; banks must implement and notify constituents under foreign exchange directions.
The rupee value of the special currency basket under the Deferred Payment Protocols has been revised and fixed with effect from December 23, 2008 following a further revision on December 18, 2008; Authorised Dealer Category-I banks are directed to notify their constituents and implement the change. The directions are issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 and are without prejudice to other statutory permissions or approvals.
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