JS-16 Govt tries to limit interest rate to single digit: Kamal

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JS-16

BUDGET-FY22-BANK-INTEREST

Govt tries to limit interest rate to single digit: Kamal

DHAKA, June 03, 2021 (BSS) – The government is trying to limit the average weighted interest rate on loans and deposits in sectors other than high-risk credit cards and consumer loans to a single digit level.

“In the last financial year, we brought the interest rate on bank loans to single digit. In addition, efforts are being made to limit the average weighted interest rate on loans and deposits in sectors other than high-risk credit cards and consumer loans to a single digit level,” said Finance Minister A H M Mustafa Kamal while placing the national budget for fiscal year (FY) 2021-22 today in Jatiya Sangsad.

He said guidelines on Credit Card Operations of Banks are being issued to be followed and complied with to ensure transparent and efficient management of the credit card business of the banks and to address the associated risks more effectively and efficiently.

The bank rate has been reduced from 5.00 percent to 4.00 percent in line with the interest rate rationalisation policy, he informed.

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