Special currency basket valuation revised; authorised dealer banks must apply the new rupee conversion under FEMA directions. The Reserve Bank notified a revision of the Rupee value of the special currency basket applicable to the Deferred Payment Protocols with the erstwhile USSR, fixing a revised Rupee value effective from a specified date for application by Authorised Dealer Category I banks. AD Category I banks are directed to inform their constituents. The directions are issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999, without prejudice to other statutory permissions or approvals.
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Special currency basket valuation revised; authorised dealer banks must apply the new rupee conversion under FEMA directions.
The Reserve Bank notified a revision of the Rupee value of the special currency basket applicable to the Deferred Payment Protocols with the erstwhile USSR, fixing a revised Rupee value effective from a specified date for application by Authorised Dealer Category I banks. AD Category I banks are directed to inform their constituents. The directions are issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999, without prejudice to other statutory permissions or approvals.
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