The IMF's fiscal monitor estimates that the US deficit for 2024 will reach 6.67% of GDP, rising to 7.06% in 2025 - double the 3.5% in 2015
Banks asked to accept torn notes, coins
The central bank has ordered all banks to accept notes of all denominations, including torn bills and coins, warning them of ‘punitive measures’ if they do not comply.
Published : 7 Sept 2015, 03:42 PM
Updated : 7 Sept 2015, 03:42 PM
A circular has been sent to the banks’ chief executives.
On July 21 last year, Bangladesh Bank in an order asked the banks to accept and exchange all notes.
Monday’s circular said there had been allegations that banks were not accepting notes of Tk 2, 5, 10 denominations apart from the torn notes.
It noted that the move was causing trouble for the people and hampering financial transactions.
The central bank in the new circular asked that all notes be accepted from the customers and customers provided proper exchange values.
Banks ignoring the order would be punished, it warned.
RELATED STORIES
The nation has kicked off talks with ratings agencies to lay the groundwork for a return to international debt markets
The IMF projects that consumer prices in the country will rise by 7.9 percent by the end of the fiscal year
While initial price spikes have faded since Russia's invasion of Ukraine, a widening of the conflict could cause them to intensify, the IMF says
