Direct import of precious metal: nominated agencies must obtain certification and comply with monitoring, reporting and distribution requirements. The circular prescribes procedures for direct import of precious metals by nominated agencies under Paragraph 4A.4 of the FTP, identifying eligible entities and requiring Regional Authority certification for Premier/Star Trading Houses (Annexure I). Nominated Agencies (other than RBI designated banks) must maintain import and distribution records, file monthly returns to the Gems & Jewellery EPC for onward transmission to DGFT, supply at least ten percent of imports to exporters, and undergo annual performance review, while complying with FTP, RBI guidelines and Customs procedures (Annexure II sets the monthly reporting format).
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Direct import of precious metal: nominated agencies must obtain certification and comply with monitoring, reporting and distribution requirements.
The circular prescribes procedures for direct import of precious metals by nominated agencies under Paragraph 4A.4 of the FTP, identifying eligible entities and requiring Regional Authority certification for Premier/Star Trading Houses (Annexure I). Nominated Agencies (other than RBI designated banks) must maintain import and distribution records, file monthly returns to the Gems & Jewellery EPC for onward transmission to DGFT, supply at least ten percent of imports to exporters, and undergo annual performance review, while complying with FTP, RBI guidelines and Customs procedures (Annexure II sets the monthly reporting format).
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