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State banks asked to revise capital shortfall proposals

  • Published at 06:12 pm December 4th, 2013

Bank and Financial Institutions Division asked managing directors of four state-owned commercial banks to precisely present their proposals of meeting capital shortfalls.

The four banks- Soanli, Rupali, Janata and Agrani earlier submitted proposals seeking help to meet capital shortages through budget funding. “It is hard to find the real situation of capital shortfalls in those proposals. They need to be revised,” said a senior official of the Division yesterday.

A meeting at the secretarial decided to ask for revision of the proposals. Additional secretary of Bank Division and head of scrutiny committee of the proposals Amalendu Mukherjee presided over the meeting.

Earlier, the government formed a three-member committee headed by banking additional secretary Amalendu Mukherjee to scrutinise the proposals of the state-owned commercial banks.

Following the meeting, a high official of a state-owned commercial bank told the Dhaka Tribune that as the Banking Division asked for revision, the government will disburse Tk41bn after the revision. As a condition, some fund will have to be used to develop the banks’ automation system, he added. According to official sources, in the first phase, the government will give four state banks Tk41bn against their capital shortfall of Tk88bn.