Bangladesh Bank has instructed the scheduled banks to charge 12 percent interest rate on credit for importing edible oil, sugar, pulse, spice, onion, date, fruits, chick pea and pea. The circular comes following reports of violation by some banks of the central bank order, in May last year instructed the banks to charge 12 percent rates on importing the essential commodities.
Bangladesh Bank in another circular has allowed rice millers to adjust their revolving cash credit or overdraft against ‘pledge’ or hypothecation’ within 45 days of obtaining the credit. Earlier, the adjustment period was 30 days.

News: The Independent /Bangladesh/15 Feb 2011