BB to release Tk 25,000cr in new notes ahead of Eid

Posted by BankInfo on Wed, Sep 16 2015 12:04 pm

Bangladesh Bank on Tuesday said law enforcement agencies would remain active with 450 counterfeit currency detector machines across the country to tackle the use of forged notes at sacrificial animal markets on the occasion of forthcoming Eid-ul-Azha. Besides, the BB will release new notes of various denominations worth Tk 25,000 crore to meet up the Eid-time demand for fresh currencies across the country, said BB deputy governor Nazneen Sultana at a press conference at the central bank headquarters in the capital. The central bank said it had provided the law enforcement agencies with the counterfeit note detection machines. Of the counterfeit detector machines, 170 will be used for the Dhaka region and the others will be for rest of the country. The BB handed over the machines to Dhaka Metropolitan Police, Rapid Action Battalion and Border Guard Bangladesh in accordance with their demand. The BB has also asked 39 banks to set up counterfeit detector machines on their own management at 20 sacrificial animal markets of the Dhaka region, she said. The central bank’s inspection teams will monitor at the sacrificial animal markets to see whether the responsible banks will conduct their job accurately, Nazneen said. The branch offices of the BB will also work with other banks so that they could set up counterfeit detector machines on cluster basis outside the Dhaka city. The BB asked the scheduled banks to set up TV monitors in all their branches across the country so that the clients will be able to detect the counterfeit notes. The BB issued a letter to the information ministry requesting it to take initiative to air advertisement in different television channels to create awareness among the people so that they differentiate the genuine notes with the counterfeit ones. The BB requested the information ministry to issue a letter to the Association of Television Channel Owners to air advertisement in this regard. The BB also requested the information ministry to set up TV monitors at important rail stations, bus and launch terminals of the country to aware the people about the counterfeit notes as huge number of people usually gather there on their way to home to celebrate Eid-ul-Azha. Nazneen said the BB would release new notes of denomination between Tk 2 and Tk 20 through 20 branches of 20 banks in the capital from September 17 till September 23. The clients, however, will be able to collect new notes of any denomination from the central bank cash counter, she said. A person will not be allowed to receive new notes for a number of times, Nazneen said. BB executive director Subhankar Saha said that the businessmen should purchase the counterfeit detector machines as the price of a machine is below Tk 2,000. - 

News:New Age/16-Sep-2015
Posted in Banking, News

Comments