All
Authorized Dealers
In Foreign Exchange,
Dear
Sirs,
DEPOSIT
OF RUPEE COUNTERPART FUNDS IN
REPSECT OF IMPORTS UNCDER FOREIGN LOANS/
CREDITS, EXCHANGE RISK COVERAGE FEE AND
IMPORT FEE-REVISION OF RATE OF FINE-AMENDMENT
Attention
of the Authorized Dealers is invited to F.E.
Circular No.61 dated the 15th August, 1993
on the above subject.
2.
The rate of fine to be charged from the Authorized Dealers
for late deposit of (i) exchange risk coverage fee, (ii)
counterpart funds in respect of imports under foreign loans/credits
and (iii) import fee shall stand reduced from Rs.4.55 per
Rs.10,000.00 per day to Rs.4.00 per Rs.10,000.00 per day
with effect from the date of issue of this Circular. Necessary
corrections may please be made by the Authorized Dealers
in:
of the copies
of Foreign Exchange Manual (7th Edition –
1992) held by them.