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AI Drafter ✕

Generate professional replies to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter.

Step 1 – Issue Identification & Review

The AI analyses your query, notice, order, or uploaded documents and identifies the key issues involved.

• Review the issues identified by the AI
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Step 2 – Draft Generation

Once you approve the issues, the AI performs issue-wise legal research and prepares a structured draft response.

• Relevant statutory provisions
• Judicial precedents and Supreme Court, High Court and other citations
• Issue-wise legal analysis
• Practical arguments and supporting content
• Professionally structured draft ready for further review.

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        FEMA & RBI

        RBI Reference Rate for US $ and Euro

        June 17, 2014

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        The Reserve Bank of India’s Reference Rate for the US dollar is Rs.60.3680 and the Reference Rate for Euro is Rs.81.8665 on June 17, 2014. The corresponding rates for the previous day (June 16, 2014) were Rs.60.0059 and Rs.81.2541 respectively. Based on the Reference Rate for the US dollar and the middle rates of the cross-currency quotes, the exchange rates of GBP and JPY against the Rupee are given below:

        Currency

        Date

        June 16, 2014

        June 17, 2014

        1 GBP

        101.9980

        102.4807

        100 YEN

        58.96

        59.21

        Note : The SDR-Rupee rate will be based on the reference rate.

        Ajit Prasad

        Assistant General Manager

        Reference rate publication clarifies exchange rate benchmarks and notes SDR Rupee linkage for currency quotations policy The Reserve Bank of India issues official exchange benchmarks by publishing the Reference Rate for major currencies and, using those rates with middle cross-currency quotes, provides corresponding rupee exchange rates for other currencies; the statement records that the SDR Rupee rate is to be derived from the published reference rate, establishing the basis for SDR rupee conversions.
                          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.

                                Reference rate publication clarifies exchange rate benchmarks and notes SDR Rupee linkage for currency quotations policy

                                The Reserve Bank of India issues official exchange benchmarks by publishing the Reference Rate for major currencies and, using those rates with middle cross-currency quotes, provides corresponding rupee exchange rates for other currencies; the statement records that the SDR Rupee rate is to be derived from the published reference rate, establishing the basis for SDR rupee conversions.


                                Note: It is a system-generated summary and is for quick reference only.
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