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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Rio Tinto and BHP Belgium added as approved suppliers for unrestricted advance remittances for rough diamond imports; reporting obligations unchanged</h1> Two additional mining companies, RIO TINTO, Belgium and BHP Billiton, Belgium, are added to the list of overseas suppliers for which importers (excluding Public Sector Companies and government departments/undertakings) may make unrestricted advance remittances for import of rough diamonds without requirement of bank guarantee or standby letter of credit, thereby permitting such unconditional advance payments. The existing terms, conditions and mandatory submission of the prescribed report format remain unchanged, thereby preserving prior compliance obligations. Authorised Dealer Category-I banks are directed to notify their constituents of these changes. (RBI)
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