Deployment of deposit insurance fund to protect the customer.
Considering the risk of deposits, the amount of money deposited by commercial banks in the central bank is now eleven and a half thousand crore rupees.
However, even if the size of the fund called Deposit Insurance Trust increases, the central bank can repay a maximum of Rs 1 lakh to the depositors if the bank goes bankrupt for any reason.
Analysts say this method of repatriation is in conflict with the risky financial sector. That is why they have demanded change of this method.
Suppose you are keeping money in a bank for the purpose of safe savings as a customer. What if the bank is bankrupt or liquidated for any reason?
The question is when the government formed a deposit insurance fund through an order in 1974 for those including you. Later, bank deposit insurance was enacted.
Under this law, Bangladesh Bank has been collecting premium against the deposits of banks.
Banks which are relatively good considering the risk of Camels rating have to pay 6 paisa per 100 rupees deposit, 9 paisa for medium risky banks and 10 paisa for troubled banks.
Bangladesh Bank says that the amount of money kept by the banks has increased by about one and a half thousand crore rupees in a year. These funds are again being invested in government term bonds.
Although the amount of money in this fund called Deposit Insurance Trust has increased, the amount of protection from the fund is very low.
If a bank like this goes bankrupt, a depositor of that bank will get a maximum refund of one lakh rupees regardless of the amount of money he has.
Which, analysts say, is a retro law. And according to insurance analysts, the laws need to change to ensure a customer-friendly financial sector.