BB blocks Rupali's Tk 284cr

The central bank finally blocked Tk 284 crore from Rupali Bank's account as penalty, as the latter failed to arrest its high loan growth last year.
Bangladesh Bank yesterday in a letter informed Rupali's managing director that the amount will remain blocked until further notice.
Rupali's year-on-year loan growth stood at 13.98 percent on December 31, 2013, way above the 10 percent ceiling set by Bangladesh Bank in an agreement with the bank in September last year.
On March 10, the banking regulator directed Rupali to deposit the amount it lent crossing the ceiling—to a blocked account as penalty.
Rupali later appealed for exemption from the punitive action. But the central bank made its order effective.
Rupali will neither be able to invest the sum anywhere nor receive any interest against it.