RESERVE BANK OF INDIA

FOREIGN EXCHANGE DEPARTMENT

CENTRAL OFFICE

MUMBAI - 400 001

RBI/2004/238

A.P. (DIR Series) Circular No.95

To

All Authorised Dealers in Foreign Exchange

Madam/Sirs,

Exim Bank's Line of Credit for USD 10 million to Bank TuranAlem, Kazakhstan

Attention of Authorised Dealers is invited to A.P. (DIR Series) Circular No.84 dated April 16, 2004 (RBI/2004/148) regarding Line of Credit (LOC) for USD 10 million extended by Exim Bank to Bank TuranAlem, Kazakhstan. It is advised that the LOC is available for exports from India to all the twelve CIS (Commonwealth of Independent States) countries including Kazakhstan, viz. Russia, Azerbaijan, Uzbekistan, Turkmenistan, Kyrgyzstan, Kazakhstan, Belarus, Ukraine, Tajikistan, Georgia, Moldova and Armenia.

2. The other terms and conditions mentioned in the AP (DIR Series) Circular No.84 dated April 16, 2004 remain unchanged.

3. Authorised Dealers may bring the contents of this circular to the notice of their constituents and advise them to obtain full details of the Line of Credit from Exim Bank's office or its website.

4. The directions contained in this circular have been issued under Section 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999).

Yours faithfully,

Grace Koshie

Chief General Manager