Bangladesh Bank governor Atiur Rahman has asked the commercial banks to reduce their interest rates to accelerate industrialisation.

The governor gave the directive in a meeting of bankers at Motijheel on Sunday.


He said the ceiling on interest rates, except that on export and import of essentials, term industrial loan and farm loan, had been withdrawn as it was felt necessary due to the global economic meltdown.

"Allegations have it that many banks were imposing 14-15 percent interest on industrial loan after the withdrawal of the ceiling," Atiur told the meeting.

"Allegations are also there that some service charges are being realised at much higher rates," the governor said urging the banks to rationalise those.

He said a directive had been given to take action against those who were defying the order in this regard.

News: The Independent/Bangladesh/ Apr-11-2011