Restriction on consignment import of gold limited to genuine needs of jewellery exporters under FEMA; immediate compliance required. Nominated banks and authorised dealers must restrict import of gold on consignment basis to meeting the genuine needs of exporters of gold jewellery; this alignment with other import regulations follows the Working Group on Gold's recommendations, takes effect immediately, and leaves all other gold import instructions unchanged under the Foreign Exchange Management Act, 1999.
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Provisions expressly mentioned in the judgment/order text.
Restriction on consignment import of gold limited to genuine needs of jewellery exporters under FEMA; immediate compliance required.
Nominated banks and authorised dealers must restrict import of gold on consignment basis to meeting the genuine needs of exporters of gold jewellery; this alignment with other import regulations follows the Working Group on Gold's recommendations, takes effect immediately, and leaves all other gold import instructions unchanged under the Foreign Exchange Management Act, 1999.
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