Bangladesh Bank (BB) has cautioned commercial banks against harassing people willing to change soiled and torn notes.
The department concerned of the central bank is receiving allegations from people that most of the commercial banks are reluctant to change their torn and soiled notes, said a BB official. “We’ve asked a commercial bank’s managing director to take punitive measures against the officials who are refusing to change torn or soiled notes,” said M Masum Kamal Bhuiyan, general manager of the department of currency management and payment systems of the central bank.
“As per BB’s rules, commercial banks are bound to change torn and soiled notes in all denominations and banks must hang a notice in each branch to provide people this service,” he added.
“No bank can refuse to give people such a service,” the official said, adding that the central bank would take immediate steps against the bank concerned if it gets specific allegations from aggrieved people.
He said the central bank often sends its officials on surprise visits to banks to stop harassment of people. It has been trying to increase the number of teams for surprise visits despite manpower shortage, the official added.
“The central bank’s inspection department officials have also been asked to monitor the matter when they go to inspect the operation of a bank branch,” the BB official said.

News: The Independent/ Bangladesh/ Aug-17-2011