Memorandum of Procedure for channeling transactions through Asian Clearing Union (ACU)

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..... nvited to the Memorandum containing detailed procedural instructions for channeling transactions through the Asian Clearing Union (ACU) (Memorandum ACM) issued on February 17, 2010 and the subsequent amendment to the same vide A.P. (DIR Series) Circular No.63 dated October 18, 2013. 2. In view of the understanding reached among the members of the ACU during the 44th Meeting of the ACU Board in Ju .....

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..... tion is resident or by debit to the ACU Dollar / ACU Euro account of an authorised dealer with the correspondent bank in the other member country. 4. It is further reiterated that all eligible export/import transactions with other ACU member countries (except in the case of certain countries where specific exemptions have been provided by the Reserve Bank of India) shall invariably be settled thr .....

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