A.P. (DIR Series) Circular No.82
December 31, 2013
All Scheduled Commercial Banks which are Authorized Dealers (ADs) in
Foreign Exchange/ All Agencies nominated for import of gold
Madam / Sir,
Import of Gold by Nominated Banks/Agencies/Entities
Attention of Authorized Persons is drawn to the Reserve Bank’s A.P. (DIR Series) Circular No. 25 dated August 14, 2013 and A.P. (DIR Series) Circular No. 73 dated November 11, 2013 on the captioned subject.
2. Government of India and the Reserve Bank of India have been receiving representations related to import of gold dore. Taking into account these representations and in consultation with the Government of India, it has been decided to issue the following clarifications which shall come into force with immediate effect :
3. Authorized Dealers may bring the contents of this circular to the notice of their constituents and customers concerned.
4. The directions contained in this circular have been issued under Section 10(4) and Section 11(1) of the Foreign Exchange Management Act (FEMA), 1999 (42 of 1999), and are without prejudice to permissions / approvals, if any, required under any other law.
(C. D. Srinivasan)
Chief General Manager