100% Cash Margin Not Required When Importing Marble Tiles

No cash margin should be kept when importing marble tiles, according to a decision made by Nepal Rastra Bank.

A 100% cash margin was required to be kept while importing products, as the Central Bank had previously arranged. NRB had arranged that a cash margin should be retained when opening LCs, claiming that marble tiles and other products are luxurious items, in order to decrease the import of such items.

Presently, the LC was only opened prior to the importation of marble tiles if the necessary funds had been deposited in the bank. Banks and financial institutions that import marble tiles will open LCs without the need to maintain a cash margin.

Products like stone, plaster, cement, asbestos, mica, etc. are now easily imported. Glass and glass objects are also included, such as Chinese clay (ceramic). Now, it's not necessary to import these things with a 100% cash margin.

Likewise, Rastra Bank has made arrangements so that neither convertible nor non-convertible seats for motorbikes, aircraft, or other vehicles should be imported with cash margins.

The same goes for primary-form plastic items, ethylene-based polymers (mainly mixtures), polyethylene with a specific gravity of 0.94 or more, polyethylene with a specific gravity of 0.94 or less, and polyethylene with a specific gravity of 0.94 or less. When importing products like ethylene-alpha-olefin copolymers with a specific gravity of less than 0.94, it has been amended that no cash margin is required. Currently, while opening LC to import certain items, it is allowed to maintain a 100% cash margin.