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<h1>India Amends Customs Exchange Rate for South African Rand u/s 14 of Customs Act, 1962.</h1> The Government of India, through the Ministry of Finance's Central Board of Excise and Customs, issued Notification No. 12/2016 on January 12, 2016, amending Notification No. 02/2016-CUSTOMS (N.T.) dated January 7, 2016. Effective January 13, 2016, the amendment modifies the exchange rate for the South African Rand in Schedule-I. The rate is set at 4.10 Indian rupees for imported goods and 3.85 Indian rupees for export goods. This adjustment is made under the authority of Section 14 of the Customs Act, 1962.