Supreme Court: Appellate Courts Cannot Overturn Trial Court Verdicts Without Independent Reasons || Supreme Court Acquits Three Men in 1979 Murder Case, Finding Serious Flaws in the Prosecution Case || Supreme Court: Magistrate Cannot Order Filing of Chargesheet After Police Submit Closure Report || Supreme Court: Landowners Cannot Claim Denial of Hearing After Failing to Avail the Opportunity || Supreme Court: Property in Sale Deed Cannot Be Altered by Rectification Without Transferor's Consent || Ahead of Rath Yatra, Orissa High Court Stays Release of 'Mahaprabhu Jagannath' Over Peace Concerns || Gujarat High Court: Ancient Hindu Law Did Not Recognise Adoption of Girls Before HAMA || Bombay High Court Orders DGP to Assess CCTV Systems and Footage Preservation at Police Stations || Allahabad HC: Mother Receiving Maintenance from Real Son Cannot Claim it from Step-Son || CCPA Imposes Rs.1 Lakh Penalty on SpiceJet Over Dark Patterns Used for Loyalty Programme Consent

RBI ends barter trade between India and Myanmar- (Reserve Bank of India) (05 Nov 2015)

MANU/APDR/0085/2015

Banking

The Reserve Bank of India has called an end to barter trade at the Indo-Myanmar Border, permissible since 2000. Noting that with a sufficiently diversified trade basket and the presence of banking establishments, it is appropriate for the system of trade to switch over to the normal system from 1 December 2015. With the barter system of trade, goods exchanged between the two countries were devoid of any mention in the banking system and were also not counted in trade statistics.

Relevant : Barter Trade with Myanmar under the Indo-Myanmar Border Trade Agreement MANU/APDR/0010/2000 Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2000 MANU/RFEM/0006/2000

Tags : MYANMAR BARTER END TRADE BANK 2015

Share :