Export against state credits requires authorised dealers to follow RBI settlement instructions under Regulation 14. Export transactions against repayment of state credits are governed by Regulation 14 of the FEMA Export and Import Regulations and by Reserve Bank instructions under the interbank arrangement; Authorised Dealers must follow RBI settlement procedures and applicable circulars and Master Direction provisions for exports financed by state credits formerly extended by the USSR and under arrangements with the Russian Federation.
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Provisions expressly mentioned in the judgment/order text.
Export against state credits requires authorised dealers to follow RBI settlement instructions under Regulation 14.
Export transactions against repayment of state credits are governed by Regulation 14 of the FEMA Export and Import Regulations and by Reserve Bank instructions under the interbank arrangement; Authorised Dealers must follow RBI settlement procedures and applicable circulars and Master Direction provisions for exports financed by state credits formerly extended by the USSR and under arrangements with the Russian Federation.
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