MINISTRY OF COMMERCE &
INDUSTRY
DEPARTMENT OF
COMMERCE
PUBLIC NOTICE NO. 05(RE-03)/2002-2007
NEW DELHI, DATED 4TH APRIL, 2003
Subject:-Indian Rupee Value of the special
currency Basket for the purposes of deferred payments contracts entered into
under the Deferred Payments Protocol dated the 30th April, 1981 for
the period 1.1.81 to 31.12.85 and the Deferred payments protocol dated 23rd
December, 1985 for the period 1.1.1986 to 31.12.90 between the Government of
India and the former USSR relating to the deliveries of machinery and equipment
from the USSR to India on deferred payment terms.
Attention is invited to Ministry of Commerce (Import Trade Control) Public
Notice No. 74-ITC (PN )/85-88 dated the 21st February, 1986,
on the subject mentioned above. It is hereby informed that in pursuance
of the relevant provisions contained in the
Deferred Payments Protocol dated the 30th April, 1981 and
23rd December, 1985 between
the Government of India and the former USSR, the Reserve Bank of India have
further revised the Indian Rupee Value of the Special Currency Basket in the
manner indicated below:-
|
Effective from
|
Rupee
value |
|
11.03.2003 |
57.5227 |
2.
The above revision would apply to the deferred payment contracts concluded
under both the Deferred Payment Protocols dated 30.04.1981 and 23.12.1985 between
the Government of India and the former USSR.
(L MANSINGH)
 |