Import of Rough, Cut and Polished Diamonds

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.... Attention of Authorised Dealer Category - I (AD Category - I) banks is invited to the A.P.(DIR Series) Circular No.2 dated July 7, 2014 and para no C.12.1(a) of Master Direction no. 17 dated January 01, 2016 on Import of Goods and Services, in terms of which AD Category - I banks were permitted to approve Clean Credit i.e. credit given by a foreign supplier to its Indian customer / buyer, with....

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.... financial difficulties and/or quality disputes, as in the case of normal imports (for which such extension of time period for delayed payments has already been delegated to the AD banks) iii.  The importer requesting for such extension is not under investigation/no investigation is pending against the importer iv.  The importer seeking extension is not a frequent offen....

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....ued by the Reserve Bank are adhered to while undertaking the import transactions. Further, any large or abnormal increase in the volume of business should be closely examined to ensure that the transactions are bonafide. All other instructions relating to import of Rough, Cut and Polished Diamonds shall continue. 6. AD Category - I banks may bring the contents of this circular to the notice of ....