DHAKA NEWS
Dhaka, Feb 29 Some commercial banks are paying interest at rates higher than they announced, the Bangladesh Bank says and calls the details of rates applied to the accounts with over Tk 1 crore deposits.
As per a central bank circular on Wednesday, the banks will have to update records and furnish the details of interest given to depositors on weekly basis.
The central bank mentioned that it had ordered the commercial banks on Jan 4 last year not to pay interest at rates higher than the ones announced by them.
It also altered a rule that allows banks to change interest rates more than once a month.
Now on, banks will be able to change interest rates only once a month.
Previously, the banks would set interest rates more than once in keeping with the existing provision.
A month ago, the Bangladesh Bank instructed the commercial banks to keep the difference between the interest rate offered on deposits and charged on loans within five percent.
As per a central bank circular on Wednesday, the banks will have to update records and furnish the details of interest given to depositors on weekly basis.
The central bank mentioned that it had ordered the commercial banks on Jan 4 last year not to pay interest at rates higher than the ones announced by them.
It also altered a rule that allows banks to change interest rates more than once a month.
Now on, banks will be able to change interest rates only once a month.
Previously, the banks would set interest rates more than once in keeping with the existing provision.
A month ago, the Bangladesh Bank instructed the commercial banks to keep the difference between the interest rate offered on deposits and charged on loans within five percent.
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