ACU settlement currency expansion: participants may settle payments in ACU Dollar, ACU Euro or ACU Yen under FEMA directions. ACU settlement mechanism now includes ACU Dollar, ACU Euro and ACU Yen, effective March 6, 2020; participants may settle transactions in any of these units and AD Category I banks may open and maintain corresponding ACU Dollar, ACU Euro and ACU Japanese Yen accounts with correspondent banks to settle eligible payments, pursuant to amendments to the Foreign Exchange Management (Manner of Receipt and Payment) Regulations and an amended Memorandum of Procedure for channelling ACU transactions.
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.
ACU settlement currency expansion: participants may settle payments in ACU Dollar, ACU Euro or ACU Yen under FEMA directions.
ACU settlement mechanism now includes ACU Dollar, ACU Euro and ACU Yen, effective March 6, 2020; participants may settle transactions in any of these units and AD Category I banks may open and maintain corresponding ACU Dollar, ACU Euro and ACU Japanese Yen accounts with correspondent banks to settle eligible payments, pursuant to amendments to the Foreign Exchange Management (Manner of Receipt and Payment) Regulations and an amended Memorandum of Procedure for channelling ACU transactions.
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