FEMA – Data on import of Gold – Statements – Modification

A. P. (DIR Series) Circular No.103,

Dated- April 03, 2012

Data on import of Gold – Statements – Modification

Attention of Authorised Dealer Category – I (AD Category – I) banks is invited to Para 4(v) of A.P. (DIR Series) Circular No.2 dated July 9, 2004, in terms of whichAD Category – I banks are required to submit to FED, CO, RBI a monthly statement regarding the number of transactions and value in USD million and Rupees in crores of gold imported by (i) Export Oriented Units (EOUs), (ii) Units in SEZ/EPZ, and (iii) Nominated Agencies/Banks.

2. It has been decided to further rationalize the entire reporting system on import of gold. Accordingly, A.D. Category-I banks shall henceforth submit the following statements to the Chief General Manager, Reserve Bank of India, Foreign Exchange Department, Central Office, Trade Division, Amar Building, Fort, Mumbai-400001:

(i) Statement on half yearly basis (end March / end September) showing the quantity and value of gold imported by the nominated banks/ agencies/ EOUs/ SEZs in Gem & Jewellery sector, mode of payment-wise, as per Annex ‘A’;

(ii) Statement on monthly basis showing the quantity and value of gold imports by the nominated agencies (other than the nominated banks)/ EOUs/ SEZs in Gem & Jewellery sector during the month under report as well as the cumulative position as at the end of the said month beginning from the 1st month of the Financial Year, as per Annex ‘B’.

Both the statements shall be submitted, even if there is ‘Nil’ position and they should reach the aforesaid office of RBI by the 10th of the following month / half year to which it relates. The statements may also be submitted by e-mail.

3. The other terms & conditions mentioned in the A.P. (DIR Series) Circular No. 2 dated July 9, 2004 remain unchanged.

4. The directions contained in this circular have been issued under sections 10 (4) and 11 (2) of the Foreign Exchange Management Act, 1999 (42 of 1999) and are without prejudice to permissions / approvals, if any, required under any other law.

Yours faithfully,

(Dr. Sujatha Elizabeth Prasad)
Chief General Manager-in-Charge

Annex – ‘A’

Statement on Import of Gold for the half year ended.

Name of the Bank:

Note : Full details of transactions may be provided in cases where the aggregate value of export exceeds USD 50 million in respect of single importer.

Annex – ‘B’

Name of the AD bank: …………………………………………………………………………..

Data for import of the gold by non-bank nominated /other agencies for the month of ……………. during the FY ………….