The interest of the loan will be reduced to one number

Prime Minister Sheikh Hasina has urged the bank owners to lower the interest rate of the bank loan by 10 percent. He said, for the sake of investment in the country, interest will be reduced to single digit ie 10 percent below.

The Prime Minister gave financial support to the families of the dead and the injured on August 21 in the grenade attack on Friday. Owners of the Prime Minister's Relief Fund donated Tk 163 crore to the Prime Minister's Relief Fund on behalf of BAB, an organization of private bank owners, at the Prime Minister's official Ganobhaban residence. At that time the Prime Minister asked the owners to reduce interest rates.

According to the official news agency BSS, the Prime Minister told the bank owners, "I want to tell you about reducing interest rates. If not, investment in the country is not possible. It must be reduced to a single digit (loan interest rate).

The Prime Minister said, "We have resolved all the problems raised by you, reminding the bank owners about the promise made to the Finance Minister about bringing down the interest rate in one month. Now you have to fulfill the promise. '

The bank owners had given the finance minister Abul Maal Abdul Muhith the promise to bring down the interest rates in single digit within one month. In view of their commitment, 50 percent of government deposits are kept in private banks instead of 25 percent. Apart from this, the cash reserve ratio (CRR) declared in monetary policy has been reduced from 6.5 percent to 5.5 percent. In this, private banks got Tk 10 billion in return from the Bangladesh Bank. But banks still do not reduce interest rates.

On April 1, at the Sonargaon Hotel, Finance Minister Abul Maal Abdul Muhith on behalf of the private banks said, "The bankers gave me the word. Within a month, they will bring interest rates down to one point. They themselves have announced this. '

Prime Minister Sheikh Hasina handed over the check of donation among the deceased and relatives of the injured on August 21 in Ganobhaban. Photo: BSS

The bank owners also said that the loan interest rate would come down. But they did not say anything specific about whether they would decrease within a month.

Referring to the increase in the interest rate of banks 'unjustly' loans, the minister said there is no reason to raise interest rates in the bank loan. It is unfair to increase interest rates. Since the election year, those who have money, some of them are not keeping money in the bank.

Due to the sudden increase in interest rates by 4 percent, the National Board of Revenue (NBR) advisory committee held at the Sonargaon Hotel on Thursday protested in front of the finance minister in front of the traders. Former FBCCI president AK Azad, attracting the attention of the finance minister said, "A few months ago, I took loans at 8, 9 and 10 percent interest. Now the letter from the bank is said to increase the interest rate of the loan by 4 percent more. When we took the loan, our interest was 4, 5 or 6 percent. With the spread of it, the bank loan interest rate has been determined. Now the interest of the loan is increasing the logic of the banks? After the loan, the bank can not raise the loan interest in any argument. "She requested the finance minister to see the matter.

Standard Bank chairman Kazi Akram Uddin Ahmed held a meeting with the finance minister about the reduction of CRR and 50 percent of government deposits to private banks. After criticizing the interest rate of the traders, he said, "We are sitting with the Prime Minister and the Finance Minister regarding the bank situation. Hopefully, liquidity crisis and interest rates will come down to tolerable levels.

FBCCI President Shafiul Islam Mohiuddin said, "The interest rate of credit came down to one point in the prime effort of the Prime Minister. But now the traders do not get any loan after going to the bank. Loan interest rates have increased by 4 percent since February. Need to increase the surveillance of Bangladesh Bank to prevent the unrest in the banking sector. Otherwise, investment in the country will be hampered, employment generation will also be hampered.