CIRCULAR NO.41, DATED 4-2-2016

DEFERRED PAYMENT PROTOCOLS, DATED 30-4-1981 AND 23-12-1985 BETWEEN GOVERNMENT OF INDIA AND ERSTWHILE USSR

A.P. (DIR SERIES 2015-16) CIRCULAR NO.41DATED 4-2-2016

Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to A.P. (DIR Series) Circular No. 25 dated November 05, 2015 wherein the Rupee value of the Special Currency Basket was indicated as Rs. 78.1657270 effective from October 28, 2015.

2. AD Category-I banks are advised that a further revision has taken place on January 20, 2016 and accordingly, the Rupee value of the Special Currency Basket has been fixed at Rs. 80.9604520 with effect from January 25, 2016.

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 section 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.

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