Banks asked to expedite Tk-10 account opening

Bangladesh Bank yesterday asked all the scheduled banks to take necessary steps to expedite the opening of Tk-10 bank accounts for grassroots people as part of its financial inclusive policy, reports UNB.
In a circular issued by its Green Banking and CSR Department, the central bank said it is mandatory for the grassroots people to have Tk 10 as pre-requisite to availing themselves of low-interest loan from the Bangladesh Bank’s revolving refinance fund.
But the central bank has observed that some of the banks are not showing due interest in opening the Tk-10 account for the grassroots.  As a result, the loan disbursement from the Tk 200 crore refinance scheme (Revolving Refinancing Fund) is being seriously hampered. “So, banks are advised to take necessary steps to expedite the opening of the Tk-10 account for the grassroots people,” the circular said.
The Bangladesh Bank has introduced the Tk-10 account system for the society’s grassroots people, including farmers, underprivileged people, disaster victims and low-income people for their inclusion in the banking process.

Banks asked to expedite Tk-10 account opening

Bangladesh Bank yesterday asked all the scheduled banks to take necessary steps to expedite the opening of Tk-10 bank accounts for grassroots people as part of its financial inclusive policy, reports UNB. In a circular issued by its Green Banking and CSR Department, the central bank said it is mandatory for the grassroots people to have Tk 10 as pre-requisite to availing themselves of low-interest loan from the Bangladesh Banks revolving refinance fund. But the central bank has observed that some of the banks are not showing due interest in opening the Tk-10 account for the grassroots. As a result, the loan disbursement from the Tk 200 crore refinance scheme (Revolving Refinancing Fund) is being seriously hampered. So, banks are advised to take necessary steps to expedite the opening of the Tk-10 account for the grassroots people, the circular said. The Bangladesh Bank has introduced the Tk-10 account system for the societys grassroots people, including farmers, underprivileged people, disaster victims and low-income people for their inclusion in the banking process.