A.P. (DIR Series) Circular No. 2(July 6, 2012)

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. 130 dated May 25, 2012, wherein the Rupee value of the Special Currency Basket was indicated as Rs. 75.594562 effective from May 9, 2012.

2. AD Category-I banks are advised that a further revision has taken place on June 21, 2012 and accordingly, the Rupee value of the Special Currency Basket has been fixed at Rs.78.193501 with effect from June 26, 2012.

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.

Yours faithfully,

(Rashmi Fauzdar)
Chief General Manager