Dhaka, March 14 -- Dhaka North City Corporation (DNCC) has sought government intervention to encash its Tk 350 million deposits stuck at various private commercial banks in the form of fixed deposit receipts (FDRs) for long.

It recently requested the Financial Institutions Division (FID) under the finance ministry to take measures in this regard.

According to the existing provision, government agencies can invest up to 50 per cent of their surplus funds.

As per the limit, DNCC kept the funds in several banks, including Global Islami Bank, Social Islami Bank, First Security Islami Bank, and Bangladesh Commerce Bank.

Of the banks, two are unable to encash the FDRs due to a liquidity crisis. The two others have not responded to DNCC's mu...