Banks asked to suspend evening banking

Bangladesh Bank today asked banks to suspend their evening banking operation in order to reduce electricity consumption as part of the government's austerity measures.

The evening banking was rolled out in 2012, afterwards a good number of banks embraced the operation.

The lenders will have to keep their operations suspended until further instruction is given by the central bank in this regard, according a notice issued by the banking watchdog.

The evening banking is usually operated between 6pm and 8pm specially in the commercial and industrial zones.

Bangladesh Bank on Monday asked banks to reduce use of electricity and energy consumption as part of the austerity measures to contain the volatility in the foreign exchange market.

In late July, Bangladesh Bank asked the lenders to cut spending for petrol, diesel, gas and lubricant by at least 20 per cent within this fiscal year.

But it would be tough for the banks to abide by the instruction because of the recent price hike of the petroleum products, said a BB official.

Under this situation, banks were also instructed not to use official vehicles for personal purposes.