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of <h1>Rupee Value for India-USSR Deferred Payment Protocols Revised; Banks to Notify Constituents Per FEMA Sections 10(4) & 11(1.</h1> The circular addresses Category-I Authorized Dealer banks regarding the Deferred Payment Protocols between the Government of India and the former USSR dated April 30, 1981, and December 23, 1985. It informs banks that the Rupee value of the Special Currency Basket, initially set at Rs.78.105433 effective from September 17, 2012, has been revised to Rs.75.037184 effective from September 27, 2012. Banks are instructed to inform their relevant constituents of this update. The directions are issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999, without affecting other legal permissions or approvals.
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