Circulars/Notifications - Banking Supervision Department  
 BSD Circular Letter No. 8
June 27, 2002  

All Banks/NBFIs

Dear Sirs,

PRUDENTIAL REGULATION – XXVIII FOREIGN
CURRENCY DEPOSITS UNDER FE 25-1998

 

Please refer to BSD Circular No.2 dated lst January, 2002 on the captioned subject whereby the date of compliance of 20% cap on FE-25 deposits was extended up to 30-6-2002. 

2.           Although the banks have made some progress to be in compliance with 20% cap on FE-25 deposits, some of them are still in breach of our instructions. Keeping in view the problems faced by the banks, and in order to facilitate the banks, the matter has been revisited and it has been decided to further extend the compliance date of 20% cap on  FE-25 deposits up to 31st December, 2002. All banks/NBFIs are advised to ensure compliance of 20% cap on FE-25 deposits within the extended time period positively. 

3.         Other instructions on the subject shall, however, remain unchanged. 

4.         Please acknowledge receipt.



Yours faithfully,
(Shaukat Zaman)
Senior Joint
Director
       
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