Indian currency bought by the Asian Development Bank by payment to the Reserve Bank of India in foreign exchange

[Sudhir M]

Hi Experts, In this notification Goods specified if exported under claim for drawback are likely to be smuggled back into India - Supersession Notification No. 49-Customs (G.S.R. 225) dated the 1st February 1963 - G.S.R. 1318 - Customs -Tariff there is mentioned about 'Indian currency bought by the Asian Development Bank by payment to the Reserve Bank of India in foreign exchange'

want to understand the meaning of this

AI Summary

Currency Exchange: ADB's Strategic Rupee Acquisition Method Under RBI Notification Reveals Complex Financial Governance Mechanism A discussion forum explores a complex customs notification regarding Indian currency transactions between the Asian Development Bank (ADB) and the Reserve Bank of India (RBI). The text explains how ADB acquires Indian rupees by paying foreign exchange to RBI, highlighting a specialized financial arrangement that involves currency movement and regulatory compliance within international financial frameworks.