Sales of savings schemes more than triple in July-Nov
Dhaka, Bangladesh, Jan. 3 -- The net sales of national savings certificates (NSCs) more than tripled in the five months of this fiscal year (FY) mainly due to lower interest rate, offered by the scheduled banks, on deposits.
The government's net borrowing through selling savings tools jumped by 226.02 per cent or BDT 132.03 billion to BDT 190.45 billion during the July-November period of FY 2020-21 from BDT 58.42 billion in the same period of the previous fiscal year, according to the official data.
Emphasizing higher returns, savers, particularly small ones, now prefer investing their hard-earned money in the NSCs instead of depositing the same with the banks.
The government's savings schemes pay more than 11 per cent annualised profi...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.