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Businesses in Bangladesh hit by cash supply drought due to withdrawal cap

Business Standard LogoBusiness Standard4h ago

Businesses in Bangladesh hit by cash supply drought due to withdrawal cap - Business Standard

Quick Summary:

Businesses in Bangladesh are facing a liquidity crunch as the central bank has capped the withdrawal of cash from banks at Tk 2 lakh amidst uncertainty in the country following the fall of the Sheikh Hasin-led government, a media report said on Monday.

The central bank decided this due to security concerns as police are yet to return to work fully, following the clashes between police and students during the widespread protests against Hasina's Awami League-led government over a controversial quota system in jobs.

The Bangladesh Bank set a cash withdrawal limit of Tk 2 lakh (Rs 1.42 lakh approximately) per account on Saturday, increasing it from the Tk 1 lakh announced earlier.


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Article Details

Category: BusinessFinance

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-12 @ 12:44:47 (4 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 569 words

Reading Time: 4 minutes read

Sentences: 24 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 22027723

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About Business Standard

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Main Topics: BusinessFinance

Official Website: business-standard.com

Update Frequency: 182 posts per day

Year Established: 1975

Headquarters: India

News Last Updated: 3 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +5:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #49

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