To protect the depositors, a part of the deposit is mandatory to be saved in the Bangladesh Bank. Before that, it has been saving 6.5 percent of the 100 percent deposit and yesterday it is saving at 5 percent. Against the total deposits of Firms Bank, April 18, 186 crore was supposed to be saved. But the bank could save only Tk 20 lakh on that day. In a report of the Bangladesh Bank, such a picture has emerged.
Bank analysts have said that in order to protect depositors, banks must compulsorily save cash in cash (which is cash deposited in banking or CRR). But the bank could not save the CRR, the risk of deposits of the depositors fell to 100 percent. At the beginning of this situation the bank needed to take initiative from the central bank. So today's result would not have been the bank.
Asked about this, former Chief Economist of Bangladesh Bank and former Director General of Bangladesh Development Research Organization (BIDS) Mustafa K. Mujire said that they can not save the necessary deposits with the Bangladesh Bank when the bank's money crisis arises. The financial condition of Firms Bank is very bad at present. Because of this, the depositor can not return the deposit. In this situation, the government is asking about the revival of the bank. The government is talking about funding from several banks. If this is done, as well as establishing good governance in the management of the bank, maybe the bank will return to its life. The depositors will get the money back. Otherwise, the depositors will have to refund the money by selling the bank's assets. Neither need to be integrated with other banks. The bank does not have the ability to return deposits to the depositors in the current situation. Everything depends on what the government decides.
It is known that the amount of deposits taken by the customers can not be invested by the customers. According to the policy, for saving the interest of the depositors, the Bangladesh Bank has to compulsorily save Tk. 19. In the banking language, which is called SLR and CRR. The remaining Tk 80 can be invested by the bank. In this, for six and sixteen days at 15 days, the money is reserved for cash, (which has been fixed at 5 p.m. from yesterday), which is called CRR (Cash Reserve Recoursement) in the banking language. And the remaining 13 Taka is to save money. The assets are called treasury bills and bonds (the bills and bonds issued against the government's debt) and the guarantee given by the government against the government's loan. Those banks can not save the cash in cash of Tk 6.5 million and 15 days in cash, which is to be fined by the Bangladesh Bank of Bangladesh.
According to the Bangladesh Bank Order, 36 (4) and 36 (5) of 1972, if any bank fails to save the cash deposited by the central bank, then there are instructions for penal interest, fine. According to Bangladesh Bank sources, due to CRR deficit, the bank has fined Taka 18.14 crore till August this year. According to the report of Bangladesh Bank, for one year Farmers Bank has been facing severe liquidity crisis. At present, the crisis has become intense. The bank has been consistently failing to save the cash deposited (CRR) in the bank's main liquidity measurement indicator (bank bank). Under the Companies Act, the fine against the CRR deficit can not be waived. Under such circumstances, the CRR deficit can be analyzed. However, the source said that the bank can save the CRR where the depositors are unable to return the money. Even after the laws of the law, there is a way to find out for Firms Bank.
According to the Bangladesh Bank, the bank can not recover the loans given by irregularities. As a result, the bank has made a big deal of liquidity. Firms Bank is not responding to the deposit in this direction. In addition, ordinary customers have fallen stumbling to collect deposits.