ACU
These large- and mid-cap stocks with ‘Strong Buy’ & ‘Buy’ recos have upside potential of up to 25%, according to analysts
Talk of tariffs, especially steep ones, makes the market nervous. Which is exactly why the next few trading sessions are critical, and why being in a hurry to take any market-related decision is the one thing to avoid right now. It is better to be cautious, to wait and watch. And let the picture become a little clearer before you act.
Rules eased to help exporters receive payments in rupees
India has eased rules for rupee-based export payments, allowing exporters to invoice and receive payments in Indian currency or foreign currencies from non-ACU countries. Rupee export realisations will now qualify for trade-policy benefits and count towards export obligations, helping promote wider use of the rupee in international trade.
India amends Foreign Trade Policy for easier rupee invoicing and payments for exporters
The government has amended its Foreign Trade Policy to ease rupee invoicing for exporters. Eligible rupee receipts now qualify for export benefits and obligations, aligning with new regulations. This change applies to exports to all countries, with specific rules for ACU members. Rupee settlements may reduce costs and risks for Indian exporters. The amendment aims to support wider international use of the Indian rupee.
India eases rules for rupee export payments, seeks to widen trade settlement
India has eased export payment rules, allowing rupee settlements with non-Asian Clearing Union countries. This move aims to promote wider use of the local currency in international trade transactions. Eligible rupee export receipts will now qualify for trade-policy benefits and count towards exporter obligations. The changes align with recent Reserve Bank of India foreign-exchange rules permitting broader rupee usage.
RBI permits settlement of trade transactions with Maldives in local currencies
Reserve Bank of India announced that bilateral trade transactions with Maldives can now be settled in Indian Rupees (INR) and Maldivian Rufiyaa (MVR) in addition to the ACU mechanism. This decision follows the signing of an MoU with the Maldives Monetary Authority to promote the use of local currencies.
Who is Shohely Akhter, the first woman cricketer banned by the ICC for match-fixing via Facebook Messenger?
Shohely Akhter, a Bangladeshi cricketer, was banned by the ICC for five years due to match-fixing attempts during the 2023 T20 World Cup. She breached multiple Anti-Corruption Code provisions and admitted her guilt. Shohely's attempt to persuade a teammate to engage in fixes was reported to the ACU, preventing the corruption from going ahead.
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Corruptors are looking at entry through leagues managed by home boards: Outgoing ICC ACU chief
Elite cricket is largely safe, but outgoing ICC Anti Corruption Unit chief Alex Marshall warns that corruptors are targeting local T20 leagues. He highlights the increased trust from players reporting corrupt approaches and the successful efforts to combat corruption, especially in Sri Lanka. Marshall emphasizss ongoing vigilance as corruptors seek weaknesses in the system.
Indian banks reach out to RBI over US ban on ACU settlements
Indian lenders have approached the Reserve Bank of India (RBI) after the US Office of Foreign Assets Control (OFAC) asked banks to refrain from processing payments linked to the Asian Clearing Union (ACU) mechanism. The ACU allows transactions to be squared off by participating central banks on a multilateral basis.
Mohammed Siraj reported corrupt approach to BCCI ACU before Australia tour: BCCI source
The BCCI had beefed up its ACU network ever since the spot-fixing scandal, involving S Sreesanth, Ankeet Chavan, Ajit Chandila and then Chennai Super Kings (CSK) team principal Gurunath Meiyappan, was unearthed in 2013. Now, each IPL team has a dedicated ACU official who stays in the same hotel and is there at the ground monitoring all the movements.
CPAC accused to be in a quid pro quo with foreign backers as Trump's stalwarts rise with power
Critics from all fronts accuse CPAC to be involved in financial and other beneficiary dealings with charges claiming the gathering becoming a trade for seat arrangement with corporate lobbyists
Fixing returns to haunt Indian cricket: woman player alleges approach, TNPL under scanner
The alleged incident, which the player reported to the Board's ACU, took place in February.Ajit Singh Shekhawat, the former DGP of Rajasthan and who heads the BCCI ACU, confirmed the development to .
Mohammed Shami to be back in Central Contracts if ACU report absolves him
BCCI would not judge the pacer on incidents related to his personal life.
Decision on Shami's IPL participation after ACU report: Khanna
ACU chief Neeraj Kumar has been given a seven-day time frame to investigate, decision to be taken after he submits his report.
Cricket-ICC anti-corruption unit seeks to monitor players' messages
CRICKET-GLOBAL/CORRUPTION:Cricket-ICC anti-corruption unit seeks to monitor players' messages
India keen on setting up LNG terminal at Iranian port
Pradhan said he had during his visit to Tehran on April 9 conveyed interest of Indian companies in setting up fertiliser and petrochemical plants.
Irfan Ahmed banned for two and a half years by ICC
The ICC announced that it has suspended Hong Kong all-rounder Irfan Ahmed for two years and six months after he admitted to breaching the ICC Anti-Corruption Code.
ICC's ACU head denies claims they shielded Brendon McCullum
The head of ICC's ACU has categorically rejected suggestions it struck a deal to protect McCullum from punishment for not reporting an alleged match-fixing approach in 2008.
Sri Lankan curator suspended for not cooperating with ICC probe
Jayananda Warnaweera was today suspended by the ICC for three years after he "failed" to cooperate in an ongoing anti-corruption investigation against him.
BCCI’s unit had alerted IPL teams about Karan Gilhotra, says official
In a confidential letter ACU director Ravi Sawani "advised" all the franchise managements to ensure that Gilhotra is "not entertained by any of their squad members".
'Attempts made to fix IPL 7'
“There have been a couple (players approached) and it’s been reported to ACU. They are looking into it.”
India pays Iran $2.8 bn to clear import dues
India has paid €1.5 billion ($2.08 billion) to clear pending dues for buying crude oil from Iran, oil minister S Jaipal Reddy said.
Iran oil import hit as SBI refuses to facilitate payment
India's crude oil import from Iran are stuck after SBI refused to facilitate payments for the imports due to the RBI's move to abolish a regional payment mechanism.
US welcomes move to ban use of ACU for gas, oil imports
The US, which is gathering support for sanctions against Iran, said the Indian decision to barring its companies from a range of deals transacted though a key trade-finance clearing house, was a significant step.
Oil crisis looms as RBI stifles Iran oil imports
'There is a huge crisis staring us. The RBI has without putting in place an alternative payment mechanism suddenly withdrawn from a system that was running fine since 1976.'
ET in the Classroom: ACU
ET IN THE CLASSROOM: Asian Clearing Union (ACU)
Banks can pay interest on euro a/c for Asian Clearing Union
The Reserve Bank has allowed banks to pay interest to accounts held in euro denomination to settle international payments of India, Pakistan, Iran, Bangladesh, Myanmar, Nepal and Sri Lanka.
IPL takes measures to ensure team owners can stay with team
SRK's statement that he had been barred entry to his team's dressing room prompted the IPL organisers to put in place a system which will allow franchise owners access to the team during matches.
Manipal AcuNova acquires German firm Ecron
Clinical research firm Manipal AcuNova Ltd on Monday announced it has completed the acquisition of ECRON GmbH, Europe.
Asian currency index now
To get over the differences among Asian nations on the proposed common Asian Currency Unit, there will now instead be an Asian Currency Index.
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