Bangladesh Bank (BB) has directed all banks concerned to put on hold purchase of new or replacement vehicles, along with other austerity measures, in the wake of the present global economic situation.
The central bank issued a circular to this effect on Wednesday.
Besides, the BB advised banks to utilise maximum 50 per cent of the allocated funds for entertainment, computers and related devices, electric appliances, furniture and other stationery items. "And the allocated above-mentioned funds cannot be re-allocated or utilized for other purposes," says the circular.
In a separate circular, the BB on Wednesday asked the non-bank financial institutions (NBFIs) to take some austerity measures including saving at least 25 per cent of the allocated funds for power and energy purposes, depending on their necessity.
The central bank issued a similar type of directive regarding power- and energy-austerity measures for scheduled banks a day before.
Besides, the allocated funds for the aforesaid sectors cannot be re- utilised for any other sectors, the central bank asked the NBFIs in its circular.
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