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The central bank yesterday took an expansionary monetary policy by way of cutting the interest rate on its tools with the view to making funds cheaper for both banks and businesses.
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Back in March, when the country was gripped by the fear of the novel coronavirus, people were streaming to banks to take out money from their accounts, in what was viewed as a puzzling occurrence.
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The government yesterday gave yet another stimulus package worth Tk 3,000 crore for the export-oriented industries to help them provide wages and salaries to their workers for July.
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The central bank yesterday decided to introduce a credit guarantee scheme for the micro and small enterprises, the first of its kind in the country, giving a much-needed lifeline to the SME sector struggling to stay afloat.
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Banks are reluctant to disburse farm loans despite the government’s renewed emphasis on keeping crop production unscathed from the devastating impact of the coronavirus pandemic and stimulus packages, deflating the state’s efforts towards an economic bounce.
