Monday, October 15, 2012

GOLD LC USANCE RESTRICTED

The Reserve Bank of India (RBI) has clarified that Suppliers' and Buyers' credit (trade credit)
including the usance period of Letters of Credit opened for import of gold in any form including
jewelry made of gold/ precious metals or/ and studded with diamonds/ semi precious / precious
stones should not exceed 90 days, from the date of shipment.

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