Byju’s Second Rights Issue for Raising Funds Halted by NCLT  ||  Byju’s Second Rights Issue for Raising Funds Halted by NCLT  ||  Gau. HC: Party Can Invoke Arbitration Despite Alternative Remedy Available Under RERA Act  ||  Mad. HC: Sexual Harassment at Workplace a ‘Continuing Offence’ If Causes Constant Trauma and Fear  ||  Delhi High Court: U/S 9 of Arbitration and Conciliation Act, 1996, Scope of Inquiry is Limited  ||  Meghalaya High Court: Bail Plea Rejected Despite Delay in Trial  ||  Pat. HC: After Commen. of Trial, Amen. of Pleadings Allowed if Required to Arrive at Just Conclusion  ||  Gau. HC: If Delay in Filing Matri. Appeal Not Satisfactorily Expl., Bar Against Remarriage Not Applic  ||  Bombay High Court: Release of Film "Shaadi Ke Director Karan Aur Johar" Restrained  ||  Mad. HC: Separate Norms for Transgender Persons in Employment and Education    

Settlement of Export/ Import transactions in currencies without direct exchange rate- (Reserve Bank of India) (04 Feb 2016)

MANU/APDR/0009/2016

Banking

The Reserve Bank of India has permitted AD Category-I banks to settle import and export transactions where invoicing is in a freely convertible currency and the settlement takes place in the currency of the beneficiary, which while convertible does not have a direct exchange rate. Qualifications include existence of a signed contract or invoice in a freely convertible currency, beneficiary willing to receive payment in its currency instead of the original, amongst others.

Tags : EXPORT   IMPORT   TRANSACTION   DIRECT EXCHANGE RATE  

Share :        

Disclaimer | Copyright 2024 - All Rights Reserved