CIR. NO. 35/2009-10-RB, DT. 17/02/2010
- Document type
- Circular
- Dated
- Category
- A.P. (DIR Series) Circulars
Memorandum of Procedure for channeling transactions through Asian Clearing Union (ACU)
Memorandum of Procedure for channeling transactions through Asian Clearing Union (ACU)
2. In view of the changes effected in the settlement system in ACU mechanism, as decided in the 37th ACU Board Meeting held in June, 2008, the Memorandum ACM containing Memorandum of Procedure for channeling transactions through Asian Clearing Union (ACU) has been updated. The revised Memorandum ACM is annexed.
3. AD Category-I banks may bring the contents of this circular to the notice of their constituents concerned.
4. The directions contained in this circular have been issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and is without prejudice to permissions/ approvals, if any, required under any other law.
Yours faithfully,
(D. Mishra)
Chief General Manager