Bank branches urged to save electricity
Monday, 19 November 2007
FE Report
The Bangladesh Bank (BB) will ask the commercial banks to check the misuse of electricity to help maintain the normal supply of power across the country.
The advice will be made from a bankers' meeting to be held at the central bank on November 27 next with the BB Governor Salehuddin Ahmed in the chair.
"We will ask the banks to cut down unnecessary electricity usage in line with the finance ministry advices," a BB senior official told the FE Sunday.
He also said the finance ministry has already advised the central bank to inform the commercial banks about saving electricity in all of their branches.
Currently 48 scheduled banks are operating their business through 6,625 branches across the country.
Besides, the central bank is likely to ask the commercial banks for taking special measures to intensify disbursement of fresh credit to the cyclone-hit people in the country's costal areas.
"The meeting may discuss about the extent of damage caused by the cyclone - SIDR-and the role the banks can play in alleviating the situation," the BB official added.
The central bank will also ask the banks to realise export proceeds in line with the existing rules and regulations.
For delay in repatriation or non-realisation of export proceeds, exporters and the authorised dealers or banks and their officials certifying the export forms are liable to punitive action under the Foreign Exchange Regulation Act, 1947.
"Both exporters and banks should take necessary measures to realise the export proceeds to protect the national interest," another BB official said.
The Bangladesh Bank (BB) will ask the commercial banks to check the misuse of electricity to help maintain the normal supply of power across the country.
The advice will be made from a bankers' meeting to be held at the central bank on November 27 next with the BB Governor Salehuddin Ahmed in the chair.
"We will ask the banks to cut down unnecessary electricity usage in line with the finance ministry advices," a BB senior official told the FE Sunday.
He also said the finance ministry has already advised the central bank to inform the commercial banks about saving electricity in all of their branches.
Currently 48 scheduled banks are operating their business through 6,625 branches across the country.
Besides, the central bank is likely to ask the commercial banks for taking special measures to intensify disbursement of fresh credit to the cyclone-hit people in the country's costal areas.
"The meeting may discuss about the extent of damage caused by the cyclone - SIDR-and the role the banks can play in alleviating the situation," the BB official added.
The central bank will also ask the banks to realise export proceeds in line with the existing rules and regulations.
For delay in repatriation or non-realisation of export proceeds, exporters and the authorised dealers or banks and their officials certifying the export forms are liable to punitive action under the Foreign Exchange Regulation Act, 1947.
"Both exporters and banks should take necessary measures to realise the export proceeds to protect the national interest," another BB official said.