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Bangladesh Bank raised the cash reserve requirement
Bangladesh Bank on Monday raised the cash reserve requirement by 50 basis points to 6.5 per cent for scheduled banks to curb inflationary pressure on the economy, said officials of the central bank on Monday.
A BB official told New Age that the central bank would mop up around Tk 3,000 crore from the banks by increasing the CRR, also known as cash reserve ratio, as the banks had excess liquidity amid a dull business condition.
Under the new rules, the scheduled banks will have to maintain 6.5 per cent CRR with the central bank from their total demand and time liabilities on a bi-weekly basis.
The BB issued a circular to managing directors and chief executive officers of all banks in this regard asking them to maintain the new CRR ratio from today (Tuesday).
The banks will have to maintain the CRR at 6.0 per cent instead of the existing 5.50 per cent on daily basis, but the bi-weekly CRR will have to be 6.5 per cent, according to the BB circular.
The new CRR comes after a gap of more than three years and six months. The central bank last increased the ratio by 0.5 percentage points to 6.0 per cent on December 1, 2010.

BB raises bank statutory liquidity reserve requirement:

The central bank, however, unchanged the rate of statutory liquidity ratio (SLR) at 19 per cent.
The BB official said that the central bank took the initiative due to increasing trend in excess liquidity in the banks amid sluggish business situation.
‘Besides, the inflationary pressure has recently increased. Due to the central bank move, the inflation may decline in the months to come as the BB will mop up huge amount of money from the market as part of its latest initiative’, he said.
The country’s point-to-point inflation