Export of goods & services against repayment of State Credit granted by USSR
Export of goods and services against repayment of State credit granted by erstwhile Soviet Union
Attention
of authorized dealers is drawn to Annexure I to A.D. (G.P. Series) Circular No.
4, dated May 19, 1999, indicating names of nominated banks in India for
handling matters relating to exports to Russia against repayment of State
credit.
2. It has now
been decided to include Centurion Bank Ltd. in the list of nominated banks.
3. Authorised
dealers may please 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). Any
contravention or non-observance of these directions is subject to the penalties
prescribed under the said Act.