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Advance remittance for import of rough diamonds
05 Mar '07
1 min read
Reserve Bank of India has eased norms of rough diamond imports from six mining companies that will allow advance remittance without limit, bank guarantee or standby letter of credit to diamond processing companies.
As per the notification of RBI, the companies included are Rio Tinto, UK-based Diamond Trading Company Pvt Ltd, Russia's Alrosa and Gokharan, Endiama E P, Angola and BHP Billiton of Australia.
On the basis of list to be approved by Gems and Jewellery Export Promotion Council, banks should also ensure that importer is a recognized processor of rough diamonds.
Click to know more.
As per the notification of RBI, the companies included are Rio Tinto, UK-based Diamond Trading Company Pvt Ltd, Russia's Alrosa and Gokharan, Endiama E P, Angola and BHP Billiton of Australia.
On the basis of list to be approved by Gems and Jewellery Export Promotion Council, banks should also ensure that importer is a recognized processor of rough diamonds.
Click to know more.
Reserve Bank of India
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