Monday, May 20, 2024

Govt injects fund to Sonali, Rupali banks

The finance ministry on Tuesday injected Tk 2,205 crore to state-owned Sonali Bank and Rupali Bank to shore up the struggling commercial banks from capital crunch and keep them afloat. Another Tk 1,895 crore would be given to Agrani and Janata banks tomorrow, a senior finance ministry official told New Age. Earlier, the ministry had decided to pump in Tk 4,100 crore to four state-owned commercial banks—Sonali, Janata, Agrani and Rupali—as huge capital shortfall made the banks virtually handicapped.
Of Tk 4,100 crore, Sonali has been injected with Tk 1,995 crore and Rupali with Tk 210 crore. Two remaining SCBs–Agrani and Janata—would be given Tk 1,895 crore, of which Tk 1,081 crore for Agrani, sources confirmed.
The finance division under the finance ministry on Tuesday issued separate office orders releasing the funds in favour of Sonali and Rupali banks.
The combined capital shortfall of the four SCBs stood at Tk 8,863 crores as of last September.
However, the finance ministry last week asked the SCBs to pursue a slew of reform measures including revising their policies on credit and risk management to become eligible for recapitalisation fund from the exchequer to fix their soaring capital shortfall.
The conditions imposed on four banks concerned are in line with the spirit of memorandum of understandings the Bangladesh Bank and the banks had signed a couple of months back.
The banks have to revise their separate credit and credit risk management policies, prepare their individual policies for implementation (process manual) of the core risk management guidelines with detailed roadmap, form core risk management committees comprising directors of the respective banks and devising their own internal control and compliance policies.
Furthermore, according to the directives of the finance ministry, Sonali, Janata, Agrani and Rupali are liable to prepare their loan review policies in accordance with their respective MoUs, revise their human resource development programmes, prepare three-year business plans, develop liquidity risk management policies and initiate quarterly stress tests systems.
‘The four banks have so far implemented most of the conditions attached to become eligible for fresh capital,’ a finance official told New Age.
Managing director of Rupali Bank Ltd Farid Uddin said the fresh injection of capital to their bank would help it enormously.

Courtesy of New Age

Related News

Bangladeshi mountaineer Babar Ali conquers Everest

News Desk : dhakamirror.com Babar Ali from Chattogram has summited Mount Everest and raised the red and green flag on the world’s highest peak. He reached the summit at 8:30am local time (8:45am Bangladesh time) on Sunday, proudly raising the red and green flag of Bangladesh. He began his journey on 1 April, after necessary ... Read more

Price of gold increases by Tk1,178 per bhori

The new rate will be effective from Sunday (19 May) News Desk : dhakamirror.com The Bangladesh Jewellers Association (Bajus) today (18 May) increased the price of gold by Tk1,178 per bhori, followed by a price hike in the local bullion market. According to a Bajus statement, 22-carat gold will now cost Tk1,18,460 per bhori (11.664 ... Read more

9 Bangladeshis named in Forbes “30 Under 30 Asia” list

News Desk : dhakamirror.com Nine Bangladeshis have been named in Forbes “30 Under 30 Asia” list for their contributions across various industries. Forbes announced its prestigious “30 Under 30 Asia” list for the ninth consecutive year yesterday (15 May), showcasing 300 exceptional young individuals under the age of 30 who are making significant strides across ... Read more

SC Stays HC Verdict On Condemn Cell

News Desk : dhakamirror.com The Appellate Division on Wednesday stayed a High Court verdict that asked the jail authorities not to put death sentence inmates in the solidarity confinement before the end of all legal processes. The Appellate Division judge in chamber, Justice M Enayetur Rahim, granted the stay after hearing an appeal filed by ... Read more

BRTA to take ‘no helmet, no fuel’ policy for bikers

News Desk : dhakamirror.com Besides, no battery-run auto-rickshaws will be allowed to operate in Dhaka The Bangladesh Road Transport Authority (BRTA) has decided to take a “no helmet, no fuel” approach for motorcycle riders across the country. Besides, no battery-run auto-rickshaws will be allowed to operate in Dhaka, according to decisions taken at a meeting ... Read more

MV Abdullah finally arrives at Ctg port

News Desk : dhakamirror.com The 23 crew members of Bangladeshi flag carrier MV Abdullah, which was recently freed from the captivity of Somali pirates, has reached the Chittagong Port today (14 May). The Chittagong Port Authority has a reception at the New Mooring Container Terminal (NCT) to welcome back the sailors. Their family members are ... Read more

JnU female student gets 5 yrs in DSA case

News Desk : dhakamirror.com A Dhaka tribunal has sentenced Tithy Sarker, a suspended student of Jagannath University, to five years imprisonment in a DSA case filed for making derogatory comments about religion on Facebook. However, it has granted her a year-long probation on eight conditions, including regular care for her aged father, following traffic rules, ... Read more

Detention in condemned cells before final disposal of the case unlawful: High Court

News Desk : dhakamirror.com The High Court (HC) has ruled that it is illegal and unlawful to detain convicts in the condemned cell (blind cell) of the prison before the death sentence is finalised by the verdict of the Supreme Court’s Appellate Division. The High Court bench of Justice Sheikh Hasan Arif and Justice Md ... Read more

Patient dies after being stuck in lift at Gazipur hospital

News Desk : dhakamirror.com A patient of Gazipur Shaheed Tajuddin Ahmed Medical College Hospital has died after getting stuck in a lift for about 45 minutes today (12 May) morning. The deceased was identified as Momtaz Begum, 53, wife of Sharfuddin of Raniganj Barigaon village in Kapasia upazila of Gazipur. Citing family members, the Hospital’s ... Read more

SSC 2024: Girls outshine boys in pass rate, GPA-5

News Desk : dhakamirror.com A total 1,82,129 students achieved GPA 5 in this year’s Secondary School Certificate (SSC) and equivalent examinations. Of them, 98,776 were girls and 83,353 boys. Results for the 2024 Secondary School Certificate (SSC) and equivalent examinations are out, and just like last year, girls have outperformed boys in both the pass ... Read more

2024 SSC, equivalent exam results published

News Desk : dhakamirror.com The results of this year’s Secondary School Certificate (SSC) and equivalent exams have been published today. According to the education board website, the pass rate of Dhaka board is 83.92%, while it is 89.25% in Rajshahi board, 79.20% in Cumilla board, 89.13% in Barishal board, 82.80% in Chattogram board, 78.40% in ... Read more

How to get your 2024 SSC results on May 12

News Desk : dhakamirror.com Results of Secondary School Certificate (SSC) and equivalent exams will be published tomorrow, Sunday. Earlier, the education ministry declared the date, 12 May, through a press release. The candidates can get their results online or through SMS after 11:00am on that day. To get the results under general boards through SMS, ... Read more

SSC, equivalent exam results tomorrow

News Desk : dhakamirror.com The results of the Secondary School Certificate and equivalent examinations of 2024 will be published tomorrow. Education Minister Mohibul Hassan Chowdhury Nowfel, along with ministry officials and board chairmen, is expected to hand over the results to Prime Minister Sheikh Hasina in the morning. The education minister is scheduled to publish ... Read more

Mango harvest hits in Satkhira

Price doubled compared to last year News Desk : dhakamirror.com Freshly harvested mangoes have started hitting the markets in Satkhira. Many mango varieties, including Golapkhas, Sarikhas, Gopalbhog, Bombay, and other local types were available at Boro Bazar, one of the largest mango markets in the district. Nevertheless, the price has doubled compared to last year ... Read more

bKash communications chief Mahfuz Sadique dies at 40

News Desk : dhakamirror.com Mahfuz Sadique, chief communications officer of mobile financial services firm bKash, passed away in Bangladesh capital Dhaka Friday morning. He was 40. Mahfuz died around 9:00am while undergoing treatment at a hospital in the capital, bKash said in a statement. Mahfuz, who began his career as a journalist at New Age, ... Read more

Prices for potatoes increase by 229% from the previous year

Prices for potatoes varied from Tk16 to Tk22 per kg at this time last year. News Desk : dhakamirror.com Despite the presence of both new and old potatoes in the market, potato prices have soared by 229% compared to late December last year. According to the Trading Corporation of Bangladesh (TCB), the selling price for ... Read more

LGED engineer dead, UNO among 3 injured in Panchagarh car crash

News Desk : dhakamirror.com An engineer of the Local Government Engineering Department (LGED) was killed and three other government officials were injured when the vehicle of a UNO hit a roadside tree in Panchagarh Sadar upazila early today. The deceased was identified as Abu Sayed, 33, upazila engineer of LGED from Pirganj upazila of Thakurgaon. ... Read more

UNHCR calls for rescue of Rohingyas stranded in Andaman Sea

News Desk : dhakamirror.com The United Nations (UN) Refugee Agency, UNHCR, has made an urgent appeal to all countries in the region, particularly those in the area surrounding the Andaman Sea, to swiftly deploy their full search and rescue capacities in response to reported vessels in distress with hundreds of Rohingya at risk of perishing. ... Read more

Over 200 RMG workers injured in Comilla while evacuating factory during earthquake

News Desk : dhakamirror.com Over two hundred garment workers in Cumilla’s Chauddagram have been injured while trying to evacuate the factory building of Amir Shirt Garment Limited during today’s earthquake. A 5.5 magnitude earthquake at a depth of 10km jolted Dhaka, and parts of the country at 9:35am today (2 December). The epicentre of the ... Read more

Daughter hacked father to death in Chattogram

News Desk : dhakamirror.com A father was hacked to death by his own daughter during an altercation over a trivial matter at Lohagara upazila in Chattogram on Friday (1 December). The deceased was identified as Abdur Rahman, 50, of Putibila Sarai village under the upazila. Police have detained the daughter, Humaira Begum, 23, soon after ... Read more