https://www.taxtmi.com/circulars?id=68208 India-Maldives bilateral trade may be settled in Indian Rupee and/or Maldivian Rufiyaa in addition to the ACU mechanism, pursuant to the November 2024 Memorandum of Understanding; the change applies to trade transactions governed by the specified provision of the FEMA (Manner of Receipt and Payment) Regulations, 2023, takes effect immediately, and is issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999, with AD Category I banks required to inform their constituents and observe any other statutory permissions. en-us Mon, 17 Mar 2025 00:00:00 +0530 Tue, 18 Mar 2025 12:13:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=68208 India-Maldives bilateral trade may be settled in Indian Rupee and/or Maldivian Rufiyaa in addition to the ACU mechanism, pursuant to the November 2024 Memorandum of Understanding; the change applies to trade transactions governed by the specified provision of the FEMA (Manner of Receipt and Payment) Regulations, 2023, takes effect immediately, and is issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999, with AD Category I banks required to inform their constituents and observe any other statutory permissions. Circulars FEMA Mon, 17 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/circulars?id=68208