Repayment of rupee denominated credits granted by former USSR -Rupee Value Changed - DGFT - 49 /(RE PN)/97-02

Repayment of rupee denominated credits granted by former USSR -Rupee Value Changed Public Notice No.49 PN/97-02 dated the 23rd October, 1997 Sub: Repayment of Rupee denominated commercial credits granted by organisations in the former USSR under the Protocols of deliveries of machinery and equipment from the USSR to the Republic of India on deferred payment terms which was signed on the 30th April, 1981 and 23rd December, 1985 -change in the rupee value of the Special Currency Basket. Attention is invited to Ministry of Commerce (Import Trade Control) Public Notice No. 74- ITC(PN)/85-88 dated the 21st February , 1986 on the subject mentioned above. It is hereby informed that in pursuance of the relevant provisions contained in the Indo-USSR deferred payments protocol dated the 30th April, 1981 and 23rd December, 1985 between the Government of India and the erstwhile USSR, the Reserve Bank of India have further revised the Indian Rupee Value of the Special Currency Basket in the manner indicated below: - Effective From Rupee Value 15.9.1997 Rs. 44.0282 2. The above revision would apply to the deferred payment contracts concluded under both the Deferred payment Protocols dated 30.4.81 and 23.12.85 between the Government of India and the erstwhile USSR. Sd/- (S.B. Mohapatra) Director General of Foreign Trade