Bangladesh Association of Banks (BAB) on Wednesday decided to bring down the lending rate at single digit and deposit rate of the three months tenure at six percent from next month (July 1).
The decision came at an emergency meeting of the owners of private commercial banks held at its office in the city, said a press release.
BAB Chairman Nazrul Islam Mazumder presided over the meeting.
BAB took the decision as per instruction of Prime Minister Sheikh Hasina for accelerating the country’s development activities, the release added.
Earlier in April, government slashed cash reserve requirement or CRR of banks by one percentage point to 5.5 percent for the benefit of private commercial banks