https://www.taxtmi.com/circulars?id=2207 AD Category - I banks may permit advance remittances without monetary limit and without bank guarantee or standby letter of credit for import of rough diamonds from a specified list of overseas mining companies, provided the importer is a GJEPC recognised processor with good export track record; banks satisfy themselves of the transaction's bonafides, make payments strictly to the ultimate beneficiary account, exercise caution against conflict diamonds, perform KYC and due diligence on both parties, obtain import evidence, and report large advance payments to the Reserve Bank as required. en-us Fri, 02 Mar 2007 00:00:00 +0530 Wed, 18 Feb 2026 17:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=2207 AD Category - I banks may permit advance remittances without monetary limit and without bank guarantee or standby letter of credit for import of rough diamonds from a specified list of overseas mining companies, provided the importer is a GJEPC recognised processor with good export track record; banks satisfy themselves of the transaction's bonafides, make payments strictly to the ultimate beneficiary account, exercise caution against conflict diamonds, perform KYC and due diligence on both parties, obtain import evidence, and report large advance payments to the Reserve Bank as required. Circulars FEMA Fri, 02 Mar 2007 00:00:00 +0530 https://www.taxtmi.com/circulars?id=2207