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of <h1>IFSCA Allows Qualified Jewellers to Import Silver via India International Bullion Exchange; Banks Can Remit Advance Payments.</h1> The International Financial Services Centres Authority (IFSCA) has issued guidelines permitting Qualified Jewellers to import silver through the India International Bullion Exchange IFSC Ltd (IIBX). Authorized Dealer Category-I banks can remit advance payments on behalf of these jewellers for up to eleven days, under specific conditions outlined in a previous circular. This follows a notification allowing Qualified Jewellers to import silver under designated ITC(HS) Codes. The circular, issued under the Foreign Exchange Management Act, 1999, requires banks to inform relevant stakeholders of these provisions.
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