Import of Goods and Services: banks must verify imports, record remittances in IDPMS, and apply conditional guarantees for advances. The Master Direction requires AD Category - I banks, under FEMA, to ensure bona fide import transactions, perform KYC/AML and due diligence, create Outward Remittance Messages in IDPMS for all remittances lacking evidence, reconcile ORMs with Bills of Entry, preserve and verify import documents, follow timelines for settlement/extension/write-off, and apply conditional guarantee requirements for advance remittances across sectors including diamonds, aircraft, gold and services.