Deferred Payment Protocols dated April 30, 1981 and December 23, 1985 between the Government of India and erstwhile USSR

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Deferred Payment Protocols dated April 30, 1981 and December 23, 1985 between the Government of India and erstwhile USSR

RBI/2004 - 05/ 487
A.P. (DIR Series) Circular No. 45

June 08, 2005

To
All Banks Authorised to Deal in Foreign Exchange

Madam / Sirs,

Deferred Payment Protocols dated April 30, 1981 and December 23, 1985 between the Government of India and erstwhile USSR

Attention of Authorised Dealer (AD) banks is invited to A.P. (DIR Series) Circular No. 33 dated February 09, 2005 wherein the rupee value of the special currency basket was indicated as Rs. 58.6940 effective from January 20, 2005.

2. Authorised Dealer banks are advised that a further revision has taken place on May 16, 2005 and accordingly, the rupee value of the special currency basket has been fixed at Rs.56.9296 with effect from May 19, 2005.

3. Authorised Dealer banks may bring the contents of this circular to the notice of their constituents concerned.

4. The direction contained in this circular has been issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and is without prejudice to permissions/approvals, if any, required under any other law.

Yours faithfully,

(Vinay Baijal)
General Manager-in-Charge