Switching from Barter Trade to Normal Trade at the Indo-Myanmar Border

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....d Dealers is invited to A.D. (G.P. Series) Circular No.8 dated May 17, 1997 read with A.P.(DIR Series) Circular No. 17 dated October 16, 2000 in terms of which it has been stipulated that the border trade between Myanmar and India may be settled through barter system. Further, in terms of Regulation 3 and 5 of the Notification No. FEMA 14/2000-RB dated May 3, 2000 [viz. Foreign Exchange Management....

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....December 1, 2015. Hence instructions contained in A.P. (DIR Series) Circular No. 17 dated October 16, 2000, stand withdrawn. Accordingly, all trade transactions with Myanmar, including those at the Indo-Myanmar border with effect from December 1, 2015 would be settled in any permitted currency in addition to the Asian Clearing Union mechanism. 4. Authorised Dealers may bring the contents of thi....