Foreign Exchange Management Act, 1999 - Import of Platinum / Palladium / Rhodium / Silver

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... nagement Act, 1999 - Import of Platinum / Palladium / Rhodium / Silver Attention of Authorised Dealer Category - I (AD Category - I) banks is invited to the provisions contained in A. P. (DIR Series) Circular No. 87 dated April 17, 2004 in terms of which AD Category - I banks have been permitted to approve Suppliers' and Buyers' credit (trade credit) up to USD 20 million per import transa .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... urther, any large or abnormal increase in the volume of business should be closely examined to ensure that the transactions are bonafide and are not intended for interest / currency arbitrage. All other instructions relating to import of these metals shall continue. 4. The instructions issued for direct import of gold, vide A. P. (DIR Series) Circular No. 2 dated July 9, 2004 shall remain un .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X