Nominated bank designation expanded to include Centurion Bank for exports against state credit repayment. Centurion Bank Ltd. is added to the list of nominated banks authorised to handle exports to Russia against repayment of State credit per Annexure I to the earlier circular. Authorised dealers must notify their constituents of this inclusion. The directions are issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999, and non observance invites penalties under the Act.