The
Presidents/ CEOs,
All Banks,
Dear
Sirs / Madam,
EXPORT
FINANCE SCHEME-FINANCE FOR
EXPORT OF GOLD JEWELLERY.
Please
refer to BPD Circular No.12 dated 7th April, 2003 in terms
of which refinance for export of gold jewellery (embedded
with or without precious/semi-precious stones) on self consignment
basis is admissible subject to adherence of the procedure
as contained in Ministry of Commerce Notification No.SRO/266(I)/2001
dated 7th May, 2001.
2. It has henceforth been decided that export refinance
will also be admissible under the Scheme for export of gemstones/precious
and semi precious stones on self consignment basis in line
with the facility extended to export of gold jewellery as
per the procedure laid down in the Circular referred to
above. Further, the exporter shall be required to disclose
value of gemstones duly authenticated by the Valuation Committee
as constituted in terms of the said SRO and produce the
same alongwith copy of contract/export order containing
terms of payment and the schedule of shipment/date at the
time of availment of refinance loan under the Scheme. However,
the exporters will be liable to invariably repatriate export
proceeds through normal banking channel against export of
gemstones within the permissible period of repatriation
of export proceeds.
3.
All other terms and conditions shall remain unchanged.
Please acknowledge receipt.