Settlement currency flexibility: Indo Sri Lanka trade and current account transactions may be settled outside the ACU in permitted currencies. Indo Sri Lanka current account and trade transactions may be settled outside the Asian Clearing Union (ACU) mechanism in any permitted currency until further notice. Category I Authorised Dealer banks must implement this change immediately, inform their constituents, and note that the circular operates under the Foreign Exchange Management Act while remaining subject to any other statutory 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 currency flexibility: Indo Sri Lanka trade and current account transactions may be settled outside the ACU in permitted currencies.
Indo Sri Lanka current account and trade transactions may be settled outside the Asian Clearing Union (ACU) mechanism in any permitted currency until further notice. Category I Authorised Dealer banks must implement this change immediately, inform their constituents, and note that the circular operates under the Foreign Exchange Management Act while remaining subject to any other statutory permissions.
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