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Suppliers' and Buyers' credit now subject to shortened maturity for imports of platinum, palladium, rhodium and silver. Suppliers' and Buyers' credit and the usance period of letters of credit for imports of platinum, palladium, rhodium and silver are subject to a shortened maturity measured from shipment, effective immediately; AD Category I banks must perform due diligence, comply with KYC and AML guidelines, investigate large or abnormal volume increases for bonafides and arbitrage risk, and continue to follow other existing import instructions under FEMA.
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Suppliers' and Buyers' credit now subject to shortened maturity for imports of platinum, palladium, rhodium and silver.
Suppliers' and Buyers' credit and the usance period of letters of credit for imports of platinum, palladium, rhodium and silver are subject to a shortened maturity measured from shipment, effective immediately; AD Category I banks must perform due diligence, comply with KYC and AML guidelines, investigate large or abnormal volume increases for bonafides and arbitrage risk, and continue to follow other existing import instructions under FEMA.
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