Special currency basket valuation revised, effective date set, authorised dealer banks to implement under FEMA directions. The Reserve Bank revised the rupee valuation of the special currency basket for Deferred Payment Protocols with the erstwhile USSR, fixing the operative value effective June 25, 2009, and directed Authorised Dealer Category I banks to implement the revision and notify concerned constituents. The circular states the Directions are issued under the Foreign Exchange Management Act, 1999 (sections 10(4) and 11(1)) without prejudice to other statutory permissions.
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Special currency basket valuation revised, effective date set, authorised dealer banks to implement under FEMA directions.
The Reserve Bank revised the rupee valuation of the special currency basket for Deferred Payment Protocols with the erstwhile USSR, fixing the operative value effective June 25, 2009, and directed Authorised Dealer Category I banks to implement the revision and notify concerned constituents. The circular states the Directions are issued under the Foreign Exchange Management Act, 1999 (sections 10(4) and 11(1)) without prejudice to other statutory permissions.
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