The Presidents/Chief Executive Officers,
All Banks


Dear Sir/Madam,

MARGIN RESTRICTION ON IMPORT OF ITEMS
         

1. Please refer to BPRD Circular No. 02 of 2017 and BPRD Circular No. 5 of 2018 on the captioned subject, as amended from time to time.
   
   
2. In this regard, it has been decided that banks, with immediate effect, shall obtain 100 percent cash margin on the import of items as listed in the enclosed Annexure-A. The cash margins on these specific items will remain in place till December 31, 2022.
   
   
3. The cash margins deposited by importers on all items shall be non-remunerative.
   
   
4. To ensure effective monitoring, banks are required to submit details of cash margins, applicable on all items, collected from importers on monthly basis, as per format at Annexure-B. Data for ongoing month should be reported to Statistics & Data Ware House Department latest by the 10th of the following month (E-Mail: [email protected]). Further, monthly data for the period September 2020 to March 2022 is required to be submitted on the same format latest by June 30, 2022.
   
   
5. All other instructions contained in the aforementioned circulars shall, however, remain unchanged.
   
   
6. Please acknowledge receipt.

Encl: Annexure-A
         Annexure-B