Banks must accept coins and torn notes: BB

The Bangladesh Bank yesterday threatened actions against managing directors and chief executives of banks for refusing to change coins and mutilated notes.

Referring to its previous directive, the central bank said instructions for accepting mutilated notes and coins were given so that people could do transactions smoothly.

Even after that, it has become evident from inspection and newspaper reports that many branches of various banks are showing reluctance to accept coins, torn and mutilated notes from their clients and give the equivalent amount. “This is undesirable,” said the BB notice.

Strict instruction to accept all sorts of notes and coins is given again, it said.

“Managing directors or chief executives of the bank will be responsible for the violation of the directive and actions will be taken against them as per rules.”