Foreign Exchange Management Act,1999 - Import of precious and semi precious stones- Clarification

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..... cation Attention of Authorised Dealer Category I (AD Category I) banks is invited to the provisions contained in A.P.(DIR Series) Circular No.34 dated September 24, 2012 , in terms of which AD Category I banks have been permitted to approve Suppliers and Buyers Credit (trade credit) including the usance period of Letters of Credit opened for import of gold in any form including jewell .....

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..... ut and polished diamonds vide A.P.(DIR Series) Circular No.59 dated May 6, 2011 andimport of gold in any form including jewellery made of gold/ precious metal or and studded with diamonds/semi precious/ precious stone vide A.P.(DIR Series) No. 34 dated September 24, 2012 shall remain unchanged. 4. AD Category I banks may bring the contents of this circular to the notice of their constituen .....

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