Asian Clearing Union (ACU) Mechanism – Indo-Maldives trade

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....I) of Sub regulation 2 of Regulations 3 of Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2023 in terms of which trade transactions between ACU member countries are to be routed through the ACU mechanism or as per the directions issued by the Reserve Bank of India. 2. In the wake of signing of Memorandum of Understanding (MoU) between RBI and Maldives Monetary Authority ....