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RBI throws open silver imports to qualified jewellers in same way as gold

10 Nov 2023
Business
RBI throws open silver imports to qualified jewellers in same way as gold
The banks dealing with imports have been directed to permit jewellers importing silver to remit advance payment for 11 days as is the case with gold.“Qualified Jewellers as notified by International Financial Services Centres Authority (IFSCA) have been permitted to import silver under specific ITC(HS) Codes through IIBX, the RBI order states.“It has been decided that Authorised Dealer (AD) Category-I banks may allow Qualified Jewellers to remit advance payment for eleven days for import of silver through IIBX subject to the conditions as mentioned in A.P. (DIR Series) Circular No.04 dated May 25, 2022, it said.AD Category-I banks have also been told to bring the contents of this circular to the notice of their customers concerned.--IANS pannu/dan

(Disclaimer: This post has been auto published from IANS news agency without any modification to the text and has not been reviewed by editor)