Banks asked to ensure NSC encashment, interest payment

Staff Correspondent | Published: 22:53, Apr 05,2020

 
 

People queue to get banking services at a branch of Sonali Bank in Bandarban on Sunday. The country’s scheduled banks are offering services on a limited scale during the general holidays announced by the government to check the spread of coronavirus in the country. — Focusbangla photo

The Bangladesh Bank on Sunday asked all scheduled banks to facilitate the encashment of national savings certificates and the payment of coupon value of such savings instruments during the ongoing general holidays when the banks are operating on a limited scale.

The government in three phases has extended the general holidays until April 14 to contain the spread of coronavirus in the country.

The central bank, however, has asked the banks to facilitate banking transactions on a limited scale for the interest of their clients.

Besides the limited-scale banking operations, the banks have been asked to ensure the encashment of national savings certificates and the payment of coupon value of such savings instruments, a BB circular issued on Sunday said.

An official of the central bank said that the facility was introduced as many families were solely dependent on returns of the national savings certificates.As of January this year, the outstanding issuance of NSCs by the government stood at Tk 2,93,333.44 crore.

The NSC holders, who have purchased the savings certificates through online after the launch of National Savings Scheme Online Management System in February last year, would not be able to avail the encashment facility as the NSC online system has remained closed during the government-announced holidays.

All the scheduled banks were asked to operate their services on a limited scale from Sunday to Thursday during the government-announced holidays.

During the curtailed bank transaction hours, customers would get scope for bank transactions from 10:00am to 1:00pm.

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