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of <h1>Rupee Value Revised for Deferred Payment Protocols with Former USSR; Effective March 2008, Under FEMA 1999.</h1> The circular addresses Authorized Dealer Category - I banks regarding revisions to the Rupee value of the special currency basket under Deferred Payment Protocols between the Government of India and the former USSR, originally dated April 30, 1981, and December 23, 1985. The Rupee value was updated to Rs.58.3849 effective March 10, 2008, and Rs.60.5718 effective March 24, 2008. Banks are instructed to inform their constituents of these changes. The directives are issued under the Foreign Exchange Management Act, 1999, and do not affect other necessary permissions or approvals under different laws.
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