Instalments for Apr, May

Banks not to fine depositors for delay

Staff Correspondent | Published: 23:11, Jun 01,2020


The Bangladesh Bank on Monday asked all scheduled banks not to charge depositors late fees for their failure to pay instalments for April and May against their DPS and other savings schemes on time because of the coronavirus outbreak.

It also asked the depositors to clear the due instalments for the two months by June 20.

The central bank on Monday issued a circular in this regard.

The government imposed  general holidays from March 26 to May 30 to contain the spread of coronavirus in the country, and due to movement restriction, many depositors failed to pay instalments on time, it said.

The circular said that no savings scheme would be cancelled due to the non-payment of instalments for the two months in the period.

If any bank has already charged late fee or additional fee for late payment of instalments, the bank must return the money to the depositors concerned.

In a separate circular issued on the day, the BB asked all financial institutions to submit all mandatory regulatory statements by June 15 as general holidays ended on May 30.

It also encouraged them to submit the statements through email.

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