Special Currency Basket value revised for deferred payment contracts under Indo USSR protocols, affecting valuation for existing agreements.
The Reserve Bank of India revised the Indian rupee value of the Special Currency Basket, effective from 21.11.1997, for application to deferred payment contracts concluded under the Indo USSR Deferred Payments Protocols dated 30.4.1981 and 23.12.1985; the revision applies to contracts governing deliveries of machinery and equipment from the USSR to India and supersedes prior basket valuations for the stated protocol periods.

Late claim admission: delayed post export DEPB applications may be considered subject to the Handbook's late cut procedure.
The circular clarifies that post export DEPB claims filed after the time prescribed by paragraph 7.42 should be considered under paragraph 15.16 of the Handbook of Procedures (Vol. I); licensing authorities are to admit delayed DEPB claims subject to the prescribed late cut rather than summarily rejecting them.

Amendment to certificate requirements for chartered accountants: changes to documents and deletions affecting export procedure compliance.
Amendments revise the Certificate of Chartered Accountant provisions in two appendices by deleting specified subparagraphs and notes and by amending cross reference language so that references to an earlier item of the certificate are changed to refer to the subsequent item, thereby altering documentary and certification requirements under the export procedure framework.

Export certification requirement: textile and man made fibre exports require council certification on shipping bills under amended schedule.
Amendment inserts two 9A entries in Schedule 2 Appendix 1 requiring that exports of fabrics and made ups of natural fibres not under quota be certified on shipping bills by the Cotton Textiles Export Promotion Council, and that yarns, fabrics and made ups of man made fibre not under quota be certified on shipping bills by the Synthetic and Rayon Textiles Export Promotion Council.

Export permission for non lethal military stores allowed without Defence NOC, specific low tech categories listed for export.
Permission is granted for specified non lethal, low technology military stores to be exported without a No Objection Certificate from the Department of Defence Production and Supplies, listing tents; uniform and bedding; hand tools; cooking utensils; stoves and lamps; fabricated metal camp stores; hospital equipment and dressings; brushes; and packaging material excluding ammunition boxes, under authority of the Export & Import Policy.