https://www.taxtmi.com/circulars?id=69195 Exports to Russia may be settled by rupee denominated Letters of Credit annotated "Reimbursement against repayment of State Credits" issued or confirmed by BFEA; nominated banks must obtain RBI confirmation of reimbursement conditioned on availability of funds in BFEA's Central Account and matching LC details, register LCs via a designated Mumbai Link Branch, and submit claims in the prescribed format within the stipulated working day limit, while repayments must be used solely to finance exports to the Russian Federation. en-us Wed, 19 May 1999 00:00:00 +0530 Fri, 20 Feb 2026 13:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=69195 Exports to Russia may be settled by rupee denominated Letters of Credit annotated "Reimbursement against repayment of State Credits" issued or confirmed by BFEA; nominated banks must obtain RBI confirmation of reimbursement conditioned on availability of funds in BFEA's Central Account and matching LC details, register LCs via a designated Mumbai Link Branch, and submit claims in the prescribed format within the stipulated working day limit, while repayments must be used solely to finance exports to the Russian Federation. Circulars FEMA Wed, 19 May 1999 00:00:00 +0530 https://www.taxtmi.com/circulars?id=69195