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        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.

        <h1>Local currency settlement permitted: Indian rupee and Maldivian rufiyaa allowed alongside ACU mechanism for bilateral trade.</h1> India-Maldives bilateral trade may be settled in Indian Rupee and/or Maldivian Rufiyaa in addition to the ACU mechanism, pursuant to the November 2024 Memorandum of Understanding; the change applies to trade transactions governed by the specified provision of the FEMA (Manner of Receipt and Payment) Regulations, 2023, takes effect immediately, and is issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999, with AD Category I banks required to inform their constituents and observe any other statutory permissions.

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