REGD. NO. D. L.-33004/99

The Gazette of India

EXTRAORDINARY

PART II-Section 3 Sub-section (ii)

PUBLISHED BY AUTHORITY

No. 200]

NEW DELHI, WEDNESDAY, FEBRUARY 27, 2002/PHALGUNA8,1923

MINISTRY OF FINANCE

(Department of Economic Affairs)

ORDER

New Delhi, the 27th February, 2002

S. O. 235(E).—In exercise of the powers conferred by

Section 40 of the Reserve Bank of India, Act 1934 (2 of 1934)

and in supersession of the previous order of the Government of

India in the Ministry of Finance (Department of Economic Affairs)

No S. O 140(E), dated 27th February, 1993, the Central

Government hereby directs that on and from the 1 st day of

March, 2002, the Reserve Bank of India shall,—

(a) sell to any authorised person at its offices in Bombay

(Mumbai), Calcutta (Kolkata), Madras (Chennai) and

New Delhi and at its branches in Ahmedabad, Bangalore,

Hyderabad, Kanpur and Nagpur U S dollars for delivery

at New York or Euro for delivery at Frankfurt for meet-

ing foreign currency payments only at a rate of Exchange

expressed in terms of per Rs 100 and calculated by that

Bank with reference to the prevailing market rate within

a margin of five per cent, on either side of such market

rate;

(b) Buy from any authorised person at its offices in Bombay

(Mumbai), Calcutta (Kolkata), Madras (Chennai) and

New Delhi and at its branches in Ahmedabad, Bangalore,

Hyderabad, Kanpur and Nagpur US dollars for deliv-

ery at New York or Euro for delivery at Frankfurt at a

rate of Exchange expressed in terms of per Rs. 100 and

calculated by that Bank with reference to the prevailing

market rate within a margin of five per cent, on either

side of such market rate.

[F No. 7(8)/2002-Ec Dn.]

CM. VASUDEV, Secy.

Printed by the Manager, Govt of India PRESS, Ring Road, Mayapuri, New Delhi-110064

and Published by the Controller of Publications, Delhi-110054.

628 GI/2002