Import restrictions on gold: cash margin and documents against payment required, with limited loan based imports for eligible jewellery exporters. Nominated banks, agencies and permitted trading houses may import gold only to meet genuine needs of gold jewellery exporters; Letters of Credit for such imports must have a 100 per cent cash margin and imports must be on Documents against Payment (DP) basis. Imports on DA or enabled by suppliers'/buyers' credit or on unfixed price terms must comply with the cash margin and DP discipline. Loan basis imports remain permitted solely for on lending to exporters of jewellery. AD Category I banks must ensure compliance and these directions are effective immediately.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Import restrictions on gold: cash margin and documents against payment required, with limited loan based imports for eligible jewellery exporters.
Nominated banks, agencies and permitted trading houses may import gold only to meet genuine needs of gold jewellery exporters; Letters of Credit for such imports must have a 100 per cent cash margin and imports must be on Documents against Payment (DP) basis. Imports on DA or enabled by suppliers'/buyers' credit or on unfixed price terms must comply with the cash margin and DP discipline. Loan basis imports remain permitted solely for on lending to exporters of jewellery. AD Category I banks must ensure compliance and these directions are effective immediately.
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