Settlement in INR permitted for specified trade financing with Sri Lanka under FEMA authorisation, outside ACU mechanism. RBI permits settlement in INR outside the ACU mechanism for trade transactions arising from the Government guaranteed credit facility to Sri Lanka; financing is limited to exports eligible under the Foreign Trade Policy and agreed to be financed under the credit agreement, effective immediately, with AD Category I banks required to notify constituents and obtain full facility details, and the directions issued under FEMA subject to other legal 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.
Settlement in INR permitted for specified trade financing with Sri Lanka under FEMA authorisation, outside ACU mechanism.
RBI permits settlement in INR outside the ACU mechanism for trade transactions arising from the Government guaranteed credit facility to Sri Lanka; financing is limited to exports eligible under the Foreign Trade Policy and agreed to be financed under the credit agreement, effective immediately, with AD Category I banks required to notify constituents and obtain full facility details, and the directions issued under FEMA subject to other legal permissions.
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