Tag Archives: Precious Metal

Buyers Credit on Import of Precious and Semi Precious Stone

Suppliers’ and Buyers’ Credit (trade credit) including the usance period of Letters of Credit opened for import of even precious stones and semi-precious stones should not exceed 90 days from the date of shipment Continue reading

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Bank Finance for Purchase of Gold

RBI gas advised that no advances should be granted by banks for purchase of gold in any form, including primary gold, gold bullion, gold jewellery, gold coins, units of gold Exchange Traded Funds (ETF) and units of gold Mutual Funds. Continue reading

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Buyer’s / Supplier’s Credit on Rough, Cut and Polished Diamonds

Supplier’s Credit and Buyer’s Credit (Trade Credit) including the usance period of Letter of Credit (LC) opened for import of rough, cut and polished diamonds has been restricted to 90 days from the date of shipment from immediate effect. Continue reading

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