News Watch (04-04-2018)

No MCQ in PEC exams this year

The government has decided to scrap Multiple Choice Question (MCQ) in Primary Education Completion (PEC) Examination from this year. Primary and Mass Education Minister Mostafizur Rahman made the announcement while replying to a journalist's query at a press briefing at the Secretariat on Tuesday. — UNB

Central bank asks NBFIs to follow uniform charges

The central bank on Tuesday directed the country's non-banking financial institutions (NBFIs) to follow uniform rates while imposing fees, charges and commissions on the loan or lease accounts. The amount of fees for a loan application cannot exceed Tk 200, the Bangladesh Bank said in a circular. Besides, the maximum rate of compound interest/profit/fees against deferred payment of loan installments should not be 2.0 per cent along with the applicable rate of interest on the relevant loans. On the other hand, the documentation and processing fees, CIB (Credit Information Bureau) charge, stamp charge, and legal and valuation fee should be fixed on the basis of 'at actual', it added. — FE Report