Private commercial banks will get 6 percent interest on deposits from the nationalized banks of the country. Government banks and government organizations will not demand more interest to keep deposits with private banks. As a result, there was no further obstacle to lowering interest on single digit. Earlier, the central bank held a meeting with the chief executives of the commercial banks. The decision was taken at the meeting. Bangladesh Bank deputy governor Abu Hena Mohammad Raji Hasan said after the meeting. Meanwhile, all commercial banks have promised to keep interest rates in one-size house from now on. However, this is applicable only for industrial loans. There is still no decision to reduce interest rates on other loans. The meeting was presided over by Bangladesh Bank governor Fazle Kabir. All the bank's MDs were present in this.
It is learned that banks had already given some big benefits like 50% of government deposits to meet the financial crisis and reduce the CRR to reduce the interest rates in the banks.
After the meeting Deputy Governor Abu Hena Mohammad Raji Hassan told reporters that there is no difference between the law enforcement interest rates in one of the numbers. Everybody's consensus about this. Some banks have already finalized the meeting of the board of directors. And the banks which have not yet finalized will also finalize this at the Board of Directors this week.
State-owned Sonali Bank Managing Director and Chief Executive Officer Obaidullah Al Masud told reporters that private banks will get deposits of 6 percent from state-owned banks. The decision was made in this meeting.
Meanwhile, ABB chairman Syed Mahbubur Rahman told reporters that Bangladesh Bank wants interest rate of credit to fall to one point. Asked to take the decision on how to make it effective. However, in order to make it effective so that no anarchy or ill-competition is created, the central bank has asked to stay alert. It has to be done effectively with responsibility. He said Bangladesh Bank is ready to provide policy support. That is why if the bank has to give some relief at fixed rate of credit deposit, Bangladesh Bank will give it. For this reason, the bank's MDs requested that no bank be punished or fined. The central bank has promised to consider it.
Syed Mahbubur Rahman said, some deposits can be withdrawn to reschedule the interest rate of deposits. The Bangladesh Bank will look favorably. However, above all the exemptions are applicable only to one interest rate of interest. But overnight will not work. It will take time. We've all started working. Conventional banks will not reschedule interest rates for existing deposits.
Asked about interest rate of savings certificate, he said, it has a special purpose. But we have requested to review its interest rates. We have heard about the issue in the government's highest office. The work is going on. It will be reviewed next year or not.
The central bank has asked banks to be careful in distributing large loans. There is no disadvantage in the distribution of the loan. It is important for the sustainable banking sector. In the meeting, the Bangladesh Bank asked the commercial banks to focus on increasing the expatriate income.
It is known that from the beginning of the year cash tanks started in banks. The interest rate of all types of loans and deposits increases from the crisis. Some banks start paying interest on 11 percent interest to the depositors, and they are able to eliminate the money. Again, the high interest rate on deposits raises interest rate of 17/18 percent for the investment.
Private bank owners want government policy support to overcome the situation Private banks are getting 50 percent of government deposits in new rules to cut liquidity crisis. Reduced Cash Rate (CRR) rate There was a provision to reserve cash deposits at the rate of six percent daily basis for all the scheduled banks and 6 percent rate of tax filing and 6 percent daily rate. It is rescheduled to 5 percent weekly and 5 percent on a daily basis. Aggressive banking has been given time till March next year to bring down the debt deposit rates to the scheduled banks in the liquidity crisis.