Foreign Exchange Management Act, 1999 – Import of rough, cut and polished diamonds

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..... ent Act, 1999 Import of rough, cut and polished diamonds Attention of Authorised Dealer Category I (AD Category I) banks is invited to the A.P.(DIR Series) Circular No.12 dated August 28 ,2008, in terms of which AD Category I banks were permitted to approve Suppliers and Buyers credit (trade credit), including the usance period of Letters of Credit for import of platinum, palladium, .....

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..... re not intended for interest / currency arbitrage. All other instructions relating to imports of rough, cut and polished diamonds shall continue. 4. The earlier instructions issued for direct import of gold vide A.P.(DIR Series) Circular No.2 dated July 9,2004 , import of platinum / palladium/ rhodium /silver vide A.P.(DIR Series) Circular No.12 dated August 28,2008 and advance remittance fo .....

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