Special Currency Basket valuation revised; banks must apply the updated rupee conversion for deferred payment obligations. Revision of the rupee valuation of the Special Currency Basket for settlement under the Deferred Payment Protocols is announced; Authorised Dealer Category I banks are notified to apply the revised valuation with effect from the circular's effective date. The Directions are issued under FEMA sections 10(4) and 11(1) and are without prejudice to other permissions or approvals, and banks must communicate the change to their constituents and implement the revised valuation for relevant deferred payment obligations.
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Special Currency Basket valuation revised; banks must apply the updated rupee conversion for deferred payment obligations.
Revision of the rupee valuation of the Special Currency Basket for settlement under the Deferred Payment Protocols is announced; Authorised Dealer Category I banks are notified to apply the revised valuation with effect from the circular's effective date. The Directions are issued under FEMA sections 10(4) and 11(1) and are without prejudice to other permissions or approvals, and banks must communicate the change to their constituents and implement the revised valuation for relevant deferred payment obligations.
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