Letter: Nearly 3,000 units involved in denial scaling and making jewelry in the city pays Rs 5 Crore as interest every day because the bank does not release payments for imported goods worth $ 123 billion during June.
The gem export and jewelry promotion board (GJEPC) has increased this problem with the relevant authorities and the carrier of his office said many emails, reminders, and meeting requests did not produce any results.
“Because of some technical obstacles in the Import Data processing and monitoring system (IDPMS), the entry bill is not reflected on the Reserve Bank of India website (RBI).
As a result, banks do not release payments for imported goods,” said Dinesh Navadiya, Regional Chair, GJEC.
“This problem is specifically related to June.
The nationalized banks issued payments but private lenders cannot make payments because of the rules.
We have requested immediate action with the Directorate General of Systems, the Department of Customs and Excise, RBI and the Directorate General of Export Promotion,” Add Navadiya.
“The 90-day deadline for payments also ends in September and they have to make payments at any cost by the end of this month,” the GJEPC regional office is claimed to be a press release.
“The local customs office has agreed to provide documents needed in the physical form to the bank if they are ready to make a payment.
But the RBI does not provide a positive response in this matter.
In these ports, which does not have electronic data exchange facilities (EDI), Payments are made on a physical copy of the bill of entry.
Consider this as a special case, if the RBI allows payment in the non-edi port method, the problem can be resolved, “said a press release.
‘Snag Tech costs 3K unit RS 5Cr loss every day’
