'File 9/37 Foreign exchange' [‎7r] (13/252)

3
-Pi-
selves that the applications are bona fide and thereafter
forward the applications together with the documentary
evidence in support of the proposed imports such as the
correspondence or cables exchanged between the importer
and the shippers or their agents to the Political Agents
concerned. After the Political Agent A mid-ranking political representative (equivalent to a Consul) from the diplomatic corps of the Government of India or one of its subordinate provincial governments, in charge of a Political Agency. has issued a recom
mendation certificate, a letter of credit may be opened on
the usual terms or a remittance made. If direct remittances
are made against imports which are not covered by letters of
credit, banks must satisfy themselves that the relative goods
have been landed in the Persian Gulf The historical term used to describe the body of water between the Arabian Peninsula and Iran. port specified in the
certificate. The original recommendation certificate of the
Political Agent A mid-ranking political representative (equivalent to a Consul) from the diplomatic corps of the Government of India or one of its subordinate provincial governments, in charge of a Political Agency. must be forwarded to the Reserve Bank of
India attached to the A or S.A.l form along with the D.l
return. Duplicate copies of the form approved by the Poli
tical Agent shouldjbe retained by the bank for their record.
6. Banks should carefully note that in the absence of a
recommendation certificate of the political Agent A mid-ranking political representative (equivalent to a Consul) from the diplomatic corps of the Government of India or one of its subordinate provincial governments, in charge of a Political Agency. no
remittances should be made against goods imported from
countries mentioned in paragraph 4, even though finance
for such imports may be arranged by importers in Persian
Gulf ports through their London agents or intermediaries
in sterling in the united Kingdom or from any other sterling
area country.
A statement of actual letters of credit opened or
remittances made against bills not drawn under letters of
credit opened against imports from countries mentioned in
paragraphs should be submitted to the Reserve Bank of India
every month on the following lines;
1. Date of remittance or letter of credit
opened.
2. Full name and address of the importer.
3. Country of origin of the goods.
4. Country from where the goods have been consigned.
5. The nature of goods imported.
6. Quantity.
7. Approximate value.
8. Remarks.
Yours faithfully,
Deputy Controller.