BB injects Tk 7,000cr into banks, non-banks

The central bank injected Tk 7,000 crore as liquidity support into banks and non-bank financial institutions yesterday. The amount is Tk 1,000 crore higher than the support given on Thursday.
Bangladesh Bank (BB) found no valid reason for any crisis in the money market, it said in a statement, reacting to some officials' claim that the liquidity crunch is a consequence of a hike in cash reserve requirement (CRR). BB had withdrawn Tk 2,076 crore only against such CRR hike by 50 basis points on December 15.
BB also supported the primary dealer banks through permitting direct transaction of dollars and overdrafts from the clearing account.