Regulatory Alerts2020-09-03
Added · Updated
BRPD Circular Letter No. 45: Regarding registration of textile Industries including buying houses under The Textile Act, 2018
The document mandates that all textile industries, including buying houses, must be registered with the Department of Textiles under the Textile Act, 2018. It advises scheduled banks to verify the registration status of their textile clients before providing banking services, as unregistered entities are operating illegally and damaging the country's reputation. Banks are instructed to ensure compliance with this registration requirement to facilitate legal enforcement against non-compliant firms.
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