New Delhi, 16 February 1961
In connection with the establishment from the 1st January 1961 of gold content of the rouble--one rouble contains 0.987412 gram of
fine gold-the Government of the Republic of India and the Government of the Union of Soviet Socialist Republics,
HAVE agreed as follows
Article 1
The amounts of the credits evaluated in roubles provided for by the Indian-Soviet Agreements in force shall be recalculated in accordance
with the change of gold content of the rouble and shall.be established in the amounts as per the Appendix, constituting an integral
part of this Protocol.
Article 2
The Ministry of Finance, Government of India, and the State Bank of the USSR shall recalculate as on the 1st January, 1961, in accordance
with the change of gold content of the rouble, the amounts of the balance of the capital debt under the credits and the interest
accrued but not paid thereon as well as not utilized amounts of the credits and confirm to each other the results of the recalculation
done not later than the 31st March 1961.
Article 3
Beginning on the 1st January 1961 all the operations on utilization and repayment of the credits as well as on payment of the interest
accrued thereon shall be effected proceeding from the new gold content of the rouble.
1. Came into force from I January 1961 with retrospective effect. U S.S.R. Gold Content of the Rouble 16 Feb. 1961
This protocol constitutes an integral part of the agreement shown in the Appendix hereto.
DONE in New Delhi on the 16th February, 1961 in two copies each in Russian and English, both the texts being authentic.
On behalf of the Government of India
Sd/ L.K. JHA
On behalf of the Government of the Union of Soviet Socialist Republics
Sd/ I.A. BENEDIKTOV
