Dhaka, Bangladesh, Aug. 16 -- The Bangladesh government started the new fiscal year with higher bank borrowing as July loans figure almost doubled following lower revenue collection.

The government's such borrowing reached BDT 130.87 billion in the first month of FY 2020-21 through issuance of treasury bills (T-bills) and bonds against BDT 70.50 billion pre-auction target, set by the Ministry of Finance earlier to partly meet budget deficit.

Of the total borrowing, BDT 109.32 billion was taken out from the banks and the remaining BDT 21.55 billion from individuals and corporate entities, according officials.

Meanwhile, the government's cumulative net bank borrowing stood at BDT 80.59 billion until July 29 after adjustment of payback wo...