Deferred Payment Protocols between GOI and erstwhile USSR
A.P. (DIR Series) Circular No.03
July 17, 2009
All Authorised Dealer Category – I Banks
Madam / Sir,
Deferred Payment Protocols dated April 30, 1981 and December 23, 1985
between Government of India and erstwhile USSR
Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to A.P. (DIR Series) Circular No.2 dated July 3, 2009, wherein the rupee value of the special currency basket was indicated as Rs.64.6153 effective from May 22, 2009.
2. AD Category-I banks are advised that a further revision has taken place on June 22, 2009 and accordingly, the rupee value of the special currency basket has been fixed at Rs.66.5719 with effect from June 25, 2009.
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(FEMA), 1999 (42 of 1999) and are without prejudice to permissions / approvals, if any, required under any other law.
Chief General Manager