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Bank interest rates to be single digit in one month

Bank interest rates to be single digit in one month

Finance Minister A M A Muhith on Sunday (Apr 1) said interest rate for the banking sector will come down to single digit within one month. "I am glad to know that bankers have taken a decision to bring down the interest rate to single digit within one month," he said, speaking as the chief guest at the annual conference of the Janata Bank at Sonargaon Hotel in the city.

He said the government has decided to allow state agencies to deposit 50 percent of their funds with private banks, up from the existing ceiling of 25 percent, to tackle liquidity crisis, news agency reported.

Among others, Bangladesh Bank Governor Fazle Kabir, Financial Institutions Division Senior Secretary Md Eunusur Rahman, Secretary-in-Charge of the Finance Division Mohammad Muslim Chowdhury and Janata Bank Chairman Luna Shamsuddoha spoke on the occasion.