Export of goods and services against repayment of State Credits granted by erstwhile Soviet Union
Export of goods and services against repayment of
State Credits
granted by erstwhile Soviet Union
Attention
of authorised dealers is drawn to Annexure I to A.D. (G.P. Series) Circular No.
4, dated 19th May, 1999, which contains the names of Nominated banks in India
for handling matters relating to exports to Russia against repayment of State
Credits.
2. It has
now been decided to include Oriental Bank of Commerce, State Bank of Patiala
and Bank of Punjab Ltd. in the list of Nominated banks.
3. Authorised
dealers may bring the contents of this circular to the notice of their
constituents concerned.
4. The
directions contained in this circular have been issued under section 10(4) and
section 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and any
contravention or non-observance thereof is subject to the penalties prescribed
under the Act.