Import of Gold on Loan Basis- Tenor of Loan and Opening of Stand - By Letter of Credit .

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.... Tenor of Loan and Opening of Stand - By Letter of Credit Attention of Authorised Dealer Category - I (AD Category - I) banks is invited to the A.P.(DIR Series) Circular No. 34 dated February 18, 2005, in terms of which the maximum tenor of gold loan was notified as 240 days consisting of 60 days for manufacture and exports +180 days for fixing the price and repayment of gold loan as per the Fo....

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....ixing the price and repayment) as per FTP 2009-14. 3. AD Category-I Banks may, accordingly, note to comply that (i) the maximum period of gold loan shall be as per the Foreign Trade Policy 2009-14 or as notified by the Government of India from time to time, in this regard and (ii) the tenor of SBLC, for import of gold on loan basis, where ever required, should also be in line with the tenor of ....