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

Cross-border currency transfer: purchase of domestic currency by an international bank via foreign exchange is permitted under customs.
The clause identifies a non commercial transfer where a foreign multilateral institution acquires Indian currency by paying foreign exchange to the central bank; this transaction is treated as a regulated, permissible movement of currency distinct from goods vulnerable to smuggling, and is subject to specific monitoring, documentation and compliance measures under customs rules and the Duty Drawback framework.