ACU – Funding of Nostro Account on ‘Tom’ basis in addition to ‘Spot’ basis

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....CU - Funding of Nostro Account on 'Tom' basis in addition to 'Spot' basis In terms of Paragraph 12(ii) of Memorandum ACM, requests from authorised dealers for funding of their ACU dollar accounts with commercial banks in participating countries on 'Spot' basis are required to be made in form ACU-1, in duplicate, to the Department of External Investments & Operations (DEIO), Reserve Bank of India,....

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....d under Section 10(4) and Section 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999). Any contravention or non-observance of these directions is subject to the penalties prescribed under the Act. Yours faithfully, K.J. UDESHI Chief General Manager ACU 1(Paragraph 12(ii) of ACM) (To be submitted in duplicate) The Chief General Manager, Reserve Bank of India, Departnebt of Extern....