| Date: |
30-04-2002
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| Notification No: |
RBI A P D (Series)Circular No 42/2002
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| Issuing Authority: |
RBI
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| Type: |
A.P.D.(Series) Circulars
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| File No: |
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| Subject: |
ACU – Funding of Nostro Account on ‘TOM’ basis
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ACU � Funding of Nostro Account on �TOM� basis
A.
P. (DIR Series) Circular No. 42 dated 30th April 2002
Attention
of authorised dealers is invited to AP (DIR Series) Circular No. 25 dated
February 17, 2001 in terms of which, authorised dealers desirous of availing the
facility of booking transactions in their ACU Dollar Accounts on �Tom� basis
are required to submit their applications to Department of External Investments
and Operations, Reserve Bank of India, Mumbai before 3 p.m. a day prior to Value
Date.
2.
In view of suggestions received from some of the authorised dealers, it
has now been decided that authorised dealers desirous of availing the facility
of booking ACU transactions on �Tom� basis may submit their applications to
Department of External Investments and Operations, Central Office, Reserve Bank
of India, Mumbai upto 4 p.m. a day prior to the Value Date.
3.
The directions contained in this circular have been issued under Section
10(4) and Section 11(1) of the Foreign Exchange Management Act, 1999 (42 of
1999).
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